Guideline Value for SUBAM COLONY

Subam Colony guideline value

The current guideline value of Subam Colony, located 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 has changed

The guideline value for Subam Colony 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. The value then rose to Rs 100 per sq.ft in 2007, followed by an increase to Rs 300 per sq.ft in 2012. However, between 2012 and 2017, there was a decrease to Rs 201 per sq.ft. The value surged to Rs 1,002 per sq.ft in 2017 and remained at this level through the 2023 revision, before being set at Rs 1,002 per sq.ft again in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 5,467%. The register has no figure for this street for the years not mentioned.

Guideline values in Kosappur

Kosappur village has 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 of Rs 1,002 per sq.ft. The guideline value for Subam Colony aligns with this median.

• Subam Colony Extn: 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

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

Which Sub Registrar Office covers Subam Colony?

The Subam Colony area falls under 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 during the registration process when buying or selling property in Kosappur. It serves as a benchmark for determining the applicable stamp duty and registration fees.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Subam Colony?

The current guideline value of Subam Colony 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 increased from Rs 18 per sq.ft in 2002 to Rs 1,002 per sq.ft in 2024, marking an overall increase of 5,467% over this period.

What is the land classification of Subam Colony?

Subam Colony is classified as Residential Special Type - II, which is important for understanding its usage and regulatory framework.

Where is the Thiruvottiyur Sub Registrar Office located?

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

How is stamp duty calculated for properties in Subam Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 10,02,000, the stamp duty would be Rs 70,140 at 7%.