Guideline Value for New Kuberaganapathi Street

New Kuberaganapathi Street guideline value

The current guideline value of New Kuberaganapathi Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village and falls under the Konnur SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of New Kuberaganapathi Street has changed

The guideline value for New Kuberaganapathi Street has undergone several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this figure dropped to Rs 2,010 per sq.ft in 2017. The value then rose sharply to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft from the 2024 revision. The changes between these revisions include a 275% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

The guideline value register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Mugappair

Mugappair village has a total of 224 streets under the Konnur SRO, with guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft as of 2024. The median guideline value in this area is Rs 7,100 per sq.ft, indicating that New Kuberaganapathi Street's 2024 figure is below that median.

• New Mariamman Koil Street: Rs 3,300 per sq.ft (2024)
• Nolambur Main Road: Rs 7,100 per sq.ft (2024)
• Officer Colony: Rs 7,100 per sq.ft (2024)
• Nehruji Street: Rs 3,800 per sq.ft (2024)
• Nehruji Nagar: Rs 3,800 per sq.ft (2024)
• Olimbic Colony: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in New Kuberaganapathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost together to Rs 2,97,000. 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 costs, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Kuberaganapathi Street?

The Sub Registrar Office that covers New Kuberaganapathi Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mugappair. It serves as a benchmark for determining the minimum value of a property, which is used to calculate stamp duty and registration fees.

When a property is sold, the sale price must be compared with the guideline value. The higher of the two values will be used to determine the applicable duties and fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of New Kuberaganapathi Street?

The current guideline value of New Kuberaganapathi 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 has changed from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 313% over this period.

What is the land classification for New Kuberaganapathi Street?

The land classification for New Kuberaganapathi Street is Residential Class III Type - I.

What are the stamp duty and registration fees for property in New Kuberaganapathi Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers New Kuberaganapathi Street?

The Konnur Sub Registrar Office covers New Kuberaganapathi Street, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.