Guideline Value for M.S.Subhulakshmi Nagar

M.S.Subhulakshmi Nagar guideline value

The current guideline value for M.S.Subhulakshmi Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024. This area is located in Manimangalam A village, under the Padappai SRO, and is classified as Residential Special Type - I.

How the guideline value of M.S.Subhulakshmi Nagar has changed

The guideline value of M.S.Subhulakshmi Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 871 per sq.ft. This increased significantly to Rs 1,300 per sq.ft in the 2023 revision, marking a 49% increase. The most recent 2024 revision has further raised the guideline value to Rs 1,430 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft, with a median value of Rs 880 per sq.ft. The guideline value for M.S.Subhulakshmi Nagar is above this median.

• M.S. Subbulakshmi Nagar Annex: Rs 1,430 per sq.ft (2024)
• Mudichur Manimangalam Road: Rs 880 per sq.ft (2024)
• MR Nagar: Rs 770 per sq.ft (2024)
• M.R.K. Nagar: Rs 880 per sq.ft (2024)
• MGR Street: Rs 880 per sq.ft (2024)
• Nadu Perumal Koil Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in M.S.Subhulakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,430 per sq.ft, the total guideline value amounts to Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, bringing the total fees together to Rs 1,28,700. 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 details.

Which Sub Registrar Office covers M.S.Subhulakshmi Nagar?

The Sub Registrar Office that covers M.S.Subhulakshmi Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Manimangalam A, the guideline value is used to calculate the stamp duty and registration fees, which are essential for the legal transfer of ownership.

Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the duty is charged on the higher of the two. Therefore, understanding the guideline value is essential for accurate financial planning during a property transaction.

Frequently asked questions

What is the current guideline value of M.S.Subhulakshmi Nagar?

The current guideline value of M.S.Subhulakshmi Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 871 per sq.ft to Rs 1,430 per sq.ft in 2024, which is an overall increase of 64%.

What are the stamp duty and registration fees for a property in M.S.Subhulakshmi Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 14,30,000, with a stamp duty of Rs 1,00,100 and a registration fee of Rs 28,600, totaling Rs 1,28,700.

Which Sub Registrar Office should I visit for transactions in M.S.Subhulakshmi Nagar?

The Padappai Sub Registrar Office covers M.S.Subhulakshmi Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification of M.S.Subhulakshmi Nagar?

M.S.Subhulakshmi Nagar is classified as Residential Special Type - I.