Guideline Value for SUBASH NAGAR

Subash Nagar guideline value

The current guideline value of Subash Nagar is Rs 120 per sq.ft, effective from 1 July 2024. This area is located in Velapakkam village under the Arani_Tiruvallur SRO, and it is classified as Residential Special Type - III.

How the guideline value of Subash Nagar has changed

The guideline value for Subash Nagar has seen several revisions over the years. The earliest recorded figure is from the 2017 revision, which set the value at Rs 80 per sq.ft. This increased by 50% to Rs 120 per sq.ft in the 2023 revision, and it remained unchanged in the 2024 revision, also at Rs 120 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2024, the overall change in the guideline value is an increase of 50%. The 2023 to 2024 revision saw no change, maintaining the guideline value at Rs 120 per sq.ft.

Guideline values in Velapakkam

In Velapakkam village, three streets under the Arani_Tiruvallur SRO have a 2024 guideline value ranging from Rs 120 to Rs 250 per sq.ft, with the median being Rs 120 per sq.ft. Subash Nagar's 2024 figure aligns with this median at Rs 120 per sq.ft.

• Sri City: Rs 120 per sq.ft (2024)
• J.H. Nagar Annex: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Subash Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 120 per sq.ft, the total guideline value would be Rs 1,20,000. The stamp duty at 7% would amount to Rs 8,400, and the registration fee at 2% would be Rs 2,400, bringing the total fees to Rs 10,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subash Nagar?

The Sub Registrar Office that covers Subash Nagar is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process for property transactions in Velapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are essential for the legal transfer of property ownership and must be paid based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Subash Nagar?

The current guideline value of Subash Nagar is Rs 120 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 80 per sq.ft in 2017 to Rs 120 per sq.ft in 2023, and it remained the same in 2024. The overall change from 2017 to 2024 is an increase of 50%.

What are the other streets in Velapakkam with guideline values?

Other streets in Velapakkam with guideline values include Sri City at Rs 120 per sq.ft and J.H. Nagar Annex at Rs 250 per sq.ft for 2024.

How is stamp duty calculated for properties in Subash Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 8,400.

Which office handles the registration for Subash Nagar?

The Arani_Tiruvallur Sub Registrar Office handles the registration for Subash Nagar. It is located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone.