Guideline Value for DR. SUBBARAO NAGAR, CH-24

Dr. Subbarao Nagar, Ch-24 guideline value

The current guideline value for Dr. Subbarao Nagar, Ch-24 is Rs 5,800 per sq.ft, effective from 1 July 2024. This area is located in Puliyur village and falls under the Kodambakkam Sub Registrar Office (SRO). The land classification for this street is Residential Class I Type - I.

How the guideline value of Dr. Subbarao Nagar, Ch-24 has changed

The guideline value for Dr. Subbarao Nagar has seen several revisions over the years. In 2007, the value was set at Rs 1,050 per sq.ft, which increased significantly to Rs 5,300 per sq.ft in 2012, marking a 405% rise. However, from 2012 to 2017, the value decreased by 33% to Rs 3,551 per sq.ft. The most recent revisions show a substantial increase, with the value rising to Rs 5,300 per sq.ft in 2023 and then to Rs 5,800 per sq.ft in 2024, reflecting a 9% increase.

Overall, from 2007 to 2024, the guideline value has increased by 452%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, which aligns with the current guideline value of Dr. Subbarao Nagar.

• DR. SUBBARAYAN NAGAR MAIN ROAD (or) SAMIYAR MADAM STREET: Rs 6,300 per sq.ft (2024)
• Dr. Rajendraprasad I Street: Rs 5,000 per sq.ft (2024)
• Dr. Rajendraprasad II Street: Rs 5,000 per sq.ft (2024)
• Dr. Radhakrishnan Nagar 3 Rd Street: Rs 5,000 per sq.ft (2024)
• Durairaj Nagar: Rs 4,400 per sq.ft (2024)
• Dr. Radhakrishnan Nagar 2 Nd Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Subbarao Nagar, Ch-24

For a 1,000 sq.ft plot at the current guideline value of Rs 5,800 per sq.ft, the total guideline value would be Rs 58,00,000. The stamp duty at 7% would amount to Rs 4,06,000, and the registration fee at 2% would be Rs 1,16,000, bringing the total to Rs 5,22,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Dr. Subbarao Nagar, Ch-24?

Dr. Subbarao Nagar, Ch-24 is covered by the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during property registration in Puliyur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate applicable stamp duties and registration fees.

It is essential to understand that the guideline value may differ from the actual sale price of the property. However, the registration authorities will charge the stamp duty and registration fees based on the higher of the two values, ensuring that the transaction is recorded accurately.

Frequently asked questions

What is the current guideline value of Dr. Subbarao Nagar, Ch-24?

The current guideline value of Dr. Subbarao Nagar, Ch-24 is Rs 5,800 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 1,050 per sq.ft in 2007 to Rs 5,800 per sq.ft in 2024, marking an overall increase of 452% over the years.

What is the land classification for Dr. Subbarao Nagar?

Dr. Subbarao Nagar is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Dr. Subbarao Nagar?

The Kodambakkam Sub Registrar Office covers Dr. Subbarao Nagar, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for property in Dr. Subbarao Nagar?

Stamp duty for property in Dr. Subbarao Nagar is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 58,00,000 would incur a stamp duty of Rs 4,06,000 at 7%.