Guideline Value

Corporate

Guideline Value for New Kuberan Nagar 7th Street

₹2200/sq.ft.

The guideline value for New Kuberan Nagar 7th 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 ₹1340 /sq.ft.
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 7th Street

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New Kuberan Nagar 7th Street guideline value

The current guideline value of New Kuberan Nagar 7th 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, classified as Residential Class II Type - I.

How the guideline value of New Kuberan Nagar 7th Street has changed

The guideline value for New Kuberan Nagar 7th Street has seen several revisions over the years. The oldest recorded figure is from the 2017 revision at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision. The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year and a total increase of 64% from the 2017 figure.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. The change from 2017 to 2023 was a significant 49%, reflecting a substantial rise in the guideline value over these years.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, placing New Kuberan Nagar 7th Street's 2024 figure below that median.

Stamp duty and registration fee for property in New Kuberan Nagar 7th 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 charges together to Rs 1,98,000. It is important to 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 specific calculations.

Which Sub Registrar Office covers New Kuberan Nagar 7th Street?

The New Kuberan Nagar 7th Street 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 property transactions in Madipakkam-1, as it is used to determine the stamp duty and registration fees during the buying and selling process. Buyers and sellers must refer to the guideline value to understand the applicable charges when registering property.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is considered for calculating the stamp duty. This ensures that the registration fees are based on a fair valuation of the property being transferred.

Frequently asked questions

What is the current guideline value of New Kuberan Nagar 7th Street?

The current guideline value of New Kuberan Nagar 7th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the registration fees for property in New Kuberan Nagar 7th Street?

The registration fees for property in New Kuberan Nagar 7th Street include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Which office handles registrations for New Kuberan Nagar 7th Street?

The Velacheri Sub Registrar Office handles registrations for New Kuberan Nagar 7th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the median guideline value for streets in Madipakkam-1?

The median guideline value for streets in Madipakkam-1 is Rs 2,750 per sq.ft, which is higher than the current guideline value of New Kuberan Nagar 7th Street.