Guideline Value for SUBASH NAGAR MAIN ROAD

Subash Nagar Main Road guideline value

The current guideline value of Subash Nagar Main Road in Nemilicherry village is Rs 2,200 per sq.ft, effective from 1 July 2024. This property falls under the Pallavaram SRO and is classified as Residential Class I Type - III.

How the guideline value of Subash Nagar Main Road has changed

Over the years, the guideline value of Subash Nagar Main Road has seen several revisions. The 2012 revision set the value at Rs 2,200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,474 per sq.ft, marking a decrease of 33%. The subsequent 2023 revision increased the value to Rs 2,000 per sq.ft, a rise of 36% from the 2017 figure. The latest revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained the same at Rs 2,200 per sq.ft.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that carry a guideline value for 2024, ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,160 per sq.ft, placing Subash Nagar Main Road's 2024 figure above this median.

• Subash Nagar, Visweswaran Street: Rs 2,200 per sq.ft (2024)
• Subbulakshmi Street: Rs 2,200 per sq.ft (2024)
• SSP Nagar: Rs 2,160 per sq.ft (2024)
• Teacher Colony: Rs 2,200 per sq.ft (2024)
• Srinivasa Street: Rs 2,200 per sq.ft (2024)
• Thirukkural Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Subash Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that 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 Subash Nagar Main Road?

The Subash Nagar Main Road is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Nemilicherry, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations and to avoid any potential legal issues during the registration process. This value serves as a benchmark for assessing property transactions within the region.

Frequently asked questions

What is the current guideline value of Subash Nagar Main Road?

The current guideline value of Subash Nagar Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 bringing it back to Rs 2,200 per sq.ft. The value was Rs 2,000 per sq.ft in 2023, Rs 1,474 per sq.ft in 2017, and Rs 2,200 per sq.ft in 2012.

What are the stamp duty and registration fees for properties in Subash Nagar Main Road?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Subash Nagar Main Road?

The Pallavaram Sub Registrar Office covers Subash Nagar Main Road, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Subash Nagar Main Road?

Subash Nagar Main Road is classified as Residential Class I Type - III, indicating its suitability for residential development.