Guideline Value for Kuberan Nagar Extn

Kuberan Nagar Extn guideline value

The current guideline value of Kuberan Nagar Extn, Madipakkam-1 village, under the Velacheri SRO is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Kuberan Nagar Extn has changed

The guideline value for Kuberan Nagar Extn has undergone several revisions over the years. The 2017 revision set the value at Rs 2,345 per sq.ft. This increased to Rs 3,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent 2024 revision has further increased the guideline value to Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. Kuberan Nagar Extn's 2024 figure is above this median.

• Kuberan Nagar Extension Kubera Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extn 1st Main Road: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extension/Balaji Nagar Extension: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extn 2nd Main Road: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extension 8th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar/Kaduvetti Vinayagar Koil Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kuberan Nagar Extn

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kuberan Nagar Extn?

The Kuberan Nagar Extn area is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is crucial during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property sale, ensuring compliance with local regulations.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property should be registered. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Kuberan Nagar Extn?

The current guideline value of Kuberan Nagar Extn is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 64% across these years.

What are the stamp duty and registration fees for property in Kuberan Nagar Extn?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles registrations for Kuberan Nagar Extn?

The Velacheri Sub Registrar Office handles registrations for Kuberan Nagar Extn, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Kuberan Nagar Extn?

Kuberan Nagar Extn is classified as Residential Class I Type - I, indicating its suitability for residential development.