Guideline Value for SUBAM NAGAR

Subam Nagar guideline value

The current guideline value of Subam Nagar, located in Sathamai village under the Madurandakam SRO, is Rs 250 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - I.

How the guideline value of Subam Nagar has changed

The guideline value for Subam Nagar has seen several revisions over the years. The most recent revision in 2024 maintains the value at Rs 250 per sq.ft, which is the same as the 2023 revision. Prior to this, the 2017 revision recorded a value of Rs 167 per sq.ft, reflecting a 50% increase from that year to 2023. The 2012 revision also had a value of Rs 250 per sq.ft, indicating a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 250 per sq.ft.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. This lack of data means that we cannot assess any changes during those years.

Guideline values in Sathamai

In Sathamai village, there are seven streets under the Madurandakam SRO that carry a guideline value for 2024, ranging from Rs 175 to Rs 500 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, which is equal to the current value of Subam Nagar.

• Udhayam Nagar: Rs 250 per sq.ft (2024)
• Vallalar Nagar: Rs 250 per sq.ft (2024)
• Vallalar Nagar Extension: Rs 250 per sq.ft (2024)
• Serenity Garden: Rs 250 per sq.ft (2024)
• Madura Nagar Phase-I: Rs 500 per sq.ft (2024)
• Madura Nagar: Rs 175 per sq.ft (2024)

Stamp duty and registration fee for property in Subam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Subam Nagar?

The Sub Registrar Office that covers Subam Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sathamai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of property registration.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and fairly. Buyers and sellers must be aware of this value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Subam Nagar?

The current guideline value of Subam Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has experienced various changes, with the most recent revision in 2024 maintaining the value at Rs 250 per sq.ft. It increased from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2023, but overall, from 2012 to 2024, it has remained unchanged.

Where can I find the Sub Registrar Office for Subam Nagar?

The Madurandakam Sub Registrar Office covers Subam Nagar and is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What are the stamp duty and registration fees for property in Subam Nagar?

The stamp duty for property in Subam Nagar is 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate would incur a total fee of Rs 22,500.

What is the land classification for Subam Nagar?

The land classification for Subam Nagar is Mixed Type - I. This classification can affect the types of development and usage permitted in the area.