Guideline Value for Kuberan Street

Kuberan Street guideline value

The current guideline value of Kuberan Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Kuberan Street has changed

Looking at the revisions, the guideline value for Kuberan Street was Rs 3,000 per sq.ft in 2012 and remained the same until the 2023 revision. In 2023, the value increased to Rs 3,000 per sq.ft, and then it rose by 10% to reach Rs 3,300 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, 2007, and 2017.

Overall, from 2012 to 2024, the guideline value has increased by 10%. This gradual increase reflects the adjustments made in the guideline values over the years.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft as of 2024. The median value for these streets is Rs 3,850 per sq.ft, placing Kuberan Street's 2024 figure below that median.

• Krishna Street: Rs 5,550 per sq.ft (2024)
• Kumaran Avenue: Rs 2,750 per sq.ft (2024)
• Kumaran Avenue 1st Street: Rs 2,750 per sq.ft (2024)
• Kumaran Avenue 2nd Street: Rs 2,750 per sq.ft (2024)
• Kumaran Colony: Rs 2,750 per sq.ft (2024)
• Krishnan Koil Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kuberan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kuberan Street?

Kuberan Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Valasaravakkam

The guideline value plays a crucial role during the registration of property transactions in Valasaravakkam. It serves as a base for calculating the stamp duty and registration fees that buyers must pay when purchasing a property.

When selling a property, the guideline value ensures that the transaction is recorded at an official value, which helps in maintaining transparency and consistency in property dealings. This value is particularly important for legal documentation and tax assessments.

Frequently asked questions

What is the current guideline value of Kuberan Street?

The current guideline value of Kuberan Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Kuberan Street has seen a 10% increase from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. From 2012 to 2024, the overall increase is also 10%.

What are the guideline values of other streets in Valasaravakkam?

Other streets in Valasaravakkam have varying guideline values. For instance, Krishna Street is valued at Rs 5,550 per sq.ft, while Kumaran Avenue and its extensions are at Rs 2,750 per sq.ft.

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Kuberan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.