Guideline Value for Kuberan Nagar

Kuberan Nagar guideline value

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

How the guideline value of Kuberan Nagar has changed

The guideline value for Kuberan Nagar has seen significant changes over the years. In the 2017 revision, the value was Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in 2023. The latest revision in 2024 has further increased this to Rs 3,850 per sq.ft, marking a 10% rise from the previous year. Overall, from 2017 to 2024, 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. The increase from 2017 to 2023 was 49%, reflecting a substantial rise in the value over this period.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for the village is Rs 2,750 per sq.ft, placing Kuberan Nagar's 2024 figure above this median.

• Kuberan Nagar 10th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar 10th Street/Sri Balaji Nagar: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar 11th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar 12th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar 13th Street (Balaji Nagar - Madura Street): Rs 3,850 per sq.ft (2024)
• Kuberan Nagar 14th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kuberan Nagar

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

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

Which Sub Registrar Office covers Kuberan Nagar?

Kuberan Nagar 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 crucial factor in property transactions in Madipakkam-1, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When purchasing property, it is important to be aware of the guideline value, as it affects the overall cost of the transaction, including the additional fees associated with registration. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Kuberan Nagar?

The current guideline value of Kuberan Nagar 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 a total increase of 64% over this period.

What is the stamp duty for property in Kuberan Nagar?

The stamp duty for property in Kuberan Nagar is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, this amounts to Rs 2,69,500.

Which Sub Registrar Office covers Kuberan Nagar?

Kuberan Nagar is under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification of Kuberan Nagar?

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