Guideline Value

Corporate

Guideline Value for New Kuberan Nagar 1st Street

₹2200/sq.ft.

The guideline value for New Kuberan Nagar 1st Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on New Kuberan Nagar 1st Street

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New Kuberan Nagar 1st Street guideline value

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

How the guideline value of New Kuberan Nagar 1st Street has changed

In the 2023 revision, the guideline value was Rs 2,000 per sq.ft. The most recent revision in 2024 saw an increase of 10%, bringing the value to Rs 2,200 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Thus, the only revisions reflected in the guideline value for New Kuberan Nagar 1st Street are the 2023 and 2024 figures. The increase from 2023 to 2024 indicates a shift in the guideline value, moving from Rs 2,000 to Rs 2,200 per sq.ft.

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 in this area is Rs 2,750 per sq.ft, positioning New Kuberan Nagar 1st Street below this median.

Stamp duty and registration fee for property in New Kuberan Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers New Kuberan Nagar 1st Street?

The Sub Registrar Office that covers New Kuberan Nagar 1st Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor when registering property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value impacts the stamp duty and registration fees that need to be paid. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of New Kuberan Nagar 1st Street?

The current guideline value of New Kuberan Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the land classification for New Kuberan Nagar 1st Street?

New Kuberan Nagar 1st Street is classified as Residential Class II Type - I. This classification affects the guideline value and potential uses of the property.

What are the stamp duty rates for property in New Kuberan Nagar 1st Street?

The stamp duty for property transactions in New Kuberan Nagar 1st Street is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where is the Sub Registrar Office for New Kuberan Nagar 1st Street located?

The Velacheri Sub Registrar Office, which covers New Kuberan Nagar 1st Street, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.