Guideline Value

Corporate

Guideline Value for Sooda Main Nagar (Kubera Nagar Extn

₹2200/sq.ft.

The guideline value for Sooda Main Nagar (kubera Nagar Extn 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 Sooda Main Nagar (kubera Nagar Extn

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Sooda Main Nagar (Kubera Nagar Extn guideline value

The current guideline value for Sooda Main Nagar (Kubera Nagar Extn) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Sooda Main Nagar (Kubera Nagar Extn has changed

Looking at the revisions, the guideline value for Sooda Main Nagar has seen significant changes over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in 2023. The most recent revision in 2024 raised the value further to Rs 2,200 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, there has been a 64% increase in the guideline value.

It is worth noting that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The 2023 to 2024 change was a notable increase of 10%, while the change from 2017 to 2023 was a substantial rise of 49%.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Sooda Main Nagar is below this median.

Stamp duty and registration fee for property in Sooda Main Nagar (Kubera Nagar Extn

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, while the registration fee at 2% would be Rs 44,000. Together, these fees would total 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sooda Main Nagar (Kubera Nagar Extn?

The Sub Registrar Office that covers Sooda Main Nagar 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 for property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sooda Main Nagar?

The current guideline value of Sooda Main Nagar (Kubera Nagar Extn) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How 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, reflecting a 64% increase overall. The most recent revision in 2024 saw an increase of 10% from the previous year.

What is the land classification for Sooda Main Nagar?

Sooda Main Nagar falls under the Residential Class II Type - I land classification, which is important for understanding the zoning and permissible uses of the land.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Sooda Main Nagar is charged at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% applicable.

Where is the Sub Registrar Office for Sooda Main Nagar located?

The Sub Registrar Office covering Sooda Main Nagar is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles all registration activities for the area.