Guideline Value for SUBASH NAGAR,VISWESWARAN STREET

Subash Nagar,Visweswaran Street guideline value

The current guideline value of Subash Nagar, Visweswaran Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nemilicherry village under the Pallavaram SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Subash Nagar,Visweswaran Street has changed

Over the years, the guideline value for Subash Nagar, Visweswaran Street has seen several revisions. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which marks a 10% increase from Rs 2,000 per sq.ft in the 2023 revision. Prior to that, in 2017, the guideline value was Rs 1,474 per sq.ft, showing a significant increase of 36% to the 2023 figure. In 2012, the value was Rs 2,200 per sq.ft, which was a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value remains unchanged at Rs 2,200 per sq.ft.

The register has no figures for the years 2002, 2003, and 2007 for this street. Thus, the earliest recorded value is from 2012 at Rs 2,200 per sq.ft, which was consistent with the 2024 revision. The fluctuations in the guideline value reflect the adjustments made over the years based on various factors.

Guideline values in Nemilicherry

In Nemilicherry village, there are 172 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,160 per sq.ft, placing Subash Nagar, Visweswaran Street above this median with its current value of Rs 2,200 per sq.ft.

• Subash Nagar Main Road: 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,Visweswaran Street

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, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Subash Nagar,Visweswaran Street?

The Sub Registrar Office that covers Subash Nagar, Visweswaran Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 plays a crucial role in the registration process of property transactions in Nemilicherry. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are mandatory costs associated with property transactions.

It is essential for buyers and sellers to be aware of the current guideline value as it affects the overall cost of the transaction. The higher the guideline value, the more significant the stamp duty and registration fees will be, impacting the total expenditure involved in the property deal.

Frequently asked questions

What is the current guideline value of Subash Nagar,Visweswaran Street?

The current guideline value of Subash Nagar, Visweswaran Street 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 seen several revisions, with the most recent being Rs 2,200 per sq.ft in 2024, a 10% increase from Rs 2,000 per sq.ft in 2023. The value was Rs 1,474 per sq.ft in 2017 and Rs 2,200 per sq.ft in 2012.

What is the land classification for Subash Nagar,Visweswaran Street?

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

What are the stamp duty and registration fees for properties in this area?

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 based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for this street located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone, and it covers Subash Nagar, Visweswaran Street.