Guideline Value for New Kubera Nagar Krishna Nagar Salai

New Kubera Nagar Krishna Nagar Salai guideline value

The current guideline value for New Kubera Nagar Krishna Nagar Salai is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - I.

How the guideline value of New Kubera Nagar Krishna Nagar Salai has changed

The guideline value register shows no figures for New Kubera Nagar Krishna Nagar Salai in the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision, which is Rs 2,200 per sq.ft.

Since there are no previous figures for this street, we cannot compare any changes over the years. The current guideline value remains the only figure recorded in the register.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO, with the 2024 guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft, and a median value of Rs 2,750 per sq.ft. The guideline value for New Kubera Nagar Krishna Nagar Salai is below this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers New Kubera Nagar Krishna Nagar Salai?

The New Kubera Nagar Krishna Nagar Salai 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 plays a crucial role in the registration process of property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees that must be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of New Kubera Nagar Krishna Nagar Salai?

The current guideline value of New Kubera Nagar Krishna Nagar Salai is Rs 2,200 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 Krishna Nagar Salai in the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision.

What is the classification of New Kubera Nagar Krishna Nagar Salai?

New Kubera Nagar Krishna Nagar Salai is classified as Residential Class II Type - I, indicating its designation for residential purposes.

Where can I find the registration office for this area?

The Velacheri Sub Registrar Office covers New Kubera Nagar Krishna Nagar Salai, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at the rate of 7%.