Guideline Value for New Kuberan Nagar 2nd Cross Street

New Kuberan Nagar 2nd Cross Street guideline value

The current guideline value of New Kuberan Nagar 2nd Cross 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 2nd Cross Street has changed

The guideline value for New Kuberan Nagar 2nd Cross Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 2,000 per sq.ft. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 in the register for this street.

Prior to the 2023 revision, the guideline value for this street was not specified in the register. The 2024 figure of Rs 2,200 per sq.ft is below the median guideline value of Rs 2,750 per sq.ft for the 1823 streets in Madipakkam-1 under the Velacheri SRO.

Guideline values in Madipakkam-1

In Madipakkam-1, the guideline values range from Rs 1,650 to Rs 5,500 per sq.ft in 2024. The median value is Rs 2,750 per sq.ft, and New Kuberan Nagar 2nd Cross Street's value is below this median.

• New Kuberan Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• New Kuberan Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• New Kuberan Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)
• New Kuberan Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• New Kuberan Nagar: Rs 2,200 per sq.ft (2024)
• New Kuberan Nagar 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in New Kuberan Nagar 2nd Cross 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, leading to a total of Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers New Kuberan Nagar 2nd Cross Street?

The Sub Registrar Office that covers New Kuberan Nagar 2nd Cross Street 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madipakkam-1. It determines the stamp duty and registration fees that need to be paid, ensuring compliance with the local regulations.

When a property is sold, the buyer and seller must refer to the guideline value to ascertain the applicable fees. This value is essential for both parties to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value for New Kuberan Nagar 2nd Cross Street?

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

How much has the guideline value changed recently?

The guideline value increased from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, marking a 10% increase.

What is the land classification for New Kuberan Nagar 2nd Cross Street?

New Kuberan Nagar 2nd Cross Street is classified as Residential Class II Type - I.

Where can I find the registration office for this area?

The registration office for New Kuberan Nagar 2nd Cross Street is the Velacheri Sub Registrar Office, 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 higher of the guideline value or the sale price. For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.