Guideline Value for Kuberan Nagar Main Road

Kuberan Nagar Main Road guideline value

The current guideline value of Kuberan Nagar Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, with a land classification of Residential Class I Type - I.

How the guideline value of Kuberan Nagar Main Road has changed

The guideline value for Kuberan Nagar Main Road has seen several revisions over the years. The 2017 revision set the value at Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the value further to Rs 3,850 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The changes between the revisions indicate a significant rise in the guideline value, particularly between 2017 and 2023, where it increased by 49%.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with 2024 guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Kuberan Nagar Main Road's 2024 guideline value above this median.

• Kuberan Nagar/Kaduvetti Vinayagar Koil Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar New Colony: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extn 2nd Main Road: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar New colony 7th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extn 1st Main Road: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar Extn: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kuberan Nagar Main Road

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, bringing the total to Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for accurate calculations based on your property details.

Which Sub Registrar Office covers Kuberan Nagar Main Road?

Kuberan Nagar Main Road falls under 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 information.

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

The guideline value is a critical factor during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

Frequently asked questions

What is the current guideline value of Kuberan Nagar Main Road?

The current guideline value of Kuberan Nagar Main Road 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%.

What is the stamp duty rate for properties in Kuberan Nagar Main Road?

The stamp duty rate for properties in Kuberan Nagar Main Road is 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Kuberan Nagar Main Road?

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

What is the range of guideline values for streets in Madipakkam-1?

The guideline values for streets in Madipakkam-1 range from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft.