Guideline Value for New Kubera Nagar (Junction Road)

New Kubera Nagar (Junction Road) guideline value

The current guideline value for New Kubera Nagar (Junction Road) is Rs 2,750 per sq.ft, effective from 1 July 2024. This property is located in Madipakkam-1 village under the Velacheri SRO and is classified as Residential Class I Type - III.

How the guideline value of New Kubera Nagar (Junction Road) has changed

The guideline value register has no figures for New Kubera Nagar (Junction Road) for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only current figure is from the 2024 revision, which is Rs 2,750 per sq.ft.

As of the 2024 revision, there have been no changes in the guideline value for this street since the previous revisions. The last recorded figure is from 2024, which is equal to the median guideline value for streets in Madipakkam-1.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for this area is Rs 2,750 per sq.ft, which is the same as the guideline value for New Kubera Nagar (Junction Road).

• New Kubera Nagar/Kaduvetti Vinayagar Koil Street: Rs 2,750 per sq.ft (2024)
• New Kubera Nagar Krishna Nagar Salai: Rs 2,200 per sq.ft (2024)
• New Kuberan Nagar: Rs 2,200 per sq.ft (2024)
• New Kuberan Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)
• New Kuberan Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• New Kuberan Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in New Kubera Nagar (Junction Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, while the registration fee at 2% would amount to Rs 55,000. Together, the total cost for these fees would be Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Kubera Nagar (Junction Road)?

The Sub Registrar Office that covers New Kubera Nagar (Junction Road) is 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

When buying or selling property in Madipakkam-1, the guideline value is a crucial factor as it determines the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value as it can affect the overall costs involved in the transaction. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value for New Kubera Nagar (Junction Road)?

The current guideline value for New Kubera Nagar (Junction Road) is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

There are no recorded figures for New Kubera Nagar (Junction Road) in the years 2002, 2003, 2007, 2012, 2017, and 2023. The only figure available is from the 2024 revision.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, which is the same as the guideline value for New Kubera Nagar (Junction Road).

What are the stamp duty and registration fees for properties in New Kubera Nagar?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is charged at 2%. For a property valued at Rs 27,50,000, the total fees would be Rs 2,47,500.

Which office handles property registration for New Kubera Nagar?

The Velacheri Sub Registrar Office handles property registration for New Kubera Nagar (Junction Road), located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.