Guideline Value for SUBAM COLONY EXTN

Subam Colony Extn guideline value

The current guideline value of Subam Colony Extn in Kosappur village, under the Thiruvottiyur SRO, is Rs 1,002 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Subam Colony Extn has changed

The guideline value for Subam Colony Extn has seen significant changes over the years. In 2002, the value was Rs 18 per sq.ft, which increased to Rs 20 per sq.ft in 2003. From there, it rose sharply to Rs 100 per sq.ft in 2007, followed by a further increase to Rs 300 per sq.ft in 2012. The value then decreased to Rs 201 per sq.ft in 2017. The most recent revisions show that the guideline value remained at Rs 1,002 per sq.ft in both 2023 and 2024.

Notably, the increase from 2017 to 2023 was 399%, while the overall increase from 2002 to 2024 is a remarkable 5,467%. The register has no figures for the years not listed above.

Guideline values in Kosappur

In Kosappur, there are 25 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,600 per sq.ft, with a median value of Rs 1,002 per sq.ft. The guideline value for Subam Colony Extn is equal to this median.

• Subam Colony: Rs 1,002 per sq.ft (2024)
• Sri Ramakrishna Nagar: Rs 1,002 per sq.ft (2024)
• Srinivasa Nagar: Rs 1,002 per sq.ft (2024)
• Thangam Colony: Rs 1,002 per sq.ft (2024)
• Thangam Colony Ext: Rs 1,002 per sq.ft (2024)
• Sri Aishwariya Nagar: Rs 1,002 per sq.ft (2024)

Stamp duty and registration fee for property in Subam Colony Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,002 per sq.ft, the total guideline value would be Rs 10,02,000. The stamp duty at 7% would amount to Rs 70,140, and the registration fee at 2% would be Rs 20,040, bringing the total to Rs 90,180. Duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subam Colony Extn?

The Subam Colony Extn is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kosappur. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction.

When a property is sold, the guideline value is used to calculate the necessary fees, ensuring that both the buyer and seller adhere to the legal requirements set forth by the Registration Department. It is important for buyers and sellers to be aware of the guideline value to ensure compliance during the registration process.

Frequently asked questions

What is the current guideline value of Subam Colony Extn?

The current guideline value of Subam Colony Extn is Rs 1,002 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 18 per sq.ft in 2002 to Rs 1,002 per sq.ft in 2024, marking an overall increase of 5,467%.

What is the stamp duty for property in Subam Colony Extn?

The stamp duty for property in Subam Colony Extn is 7% of the guideline value or the sale price, whichever is higher.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What are the other streets in Kosappur with the same guideline value?

Other streets in Kosappur with the same guideline value of Rs 1,002 per sq.ft include Subam Colony, Sri Ramakrishna Nagar, Srinivasa Nagar, Thangam Colony, Thangam Colony Ext, and Sri Aishwariya Nagar.