Guideline Value for SUBBULAKSHMI NAGAR 1st STREET

SUBBULAKSHMI NAGAR 1st STREET guideline value

The current guideline value of SUBBULAKSHMI NAGAR 1st STREET is Rs 2,100 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of SUBBULAKSHMI NAGAR 1st STREET has changed

The guideline value for SUBBULAKSHMI NAGAR 1st STREET has seen several revisions over the years. The earliest available figure is from 2007, which was Rs 600 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a 233% rise. However, it then decreased to Rs 1,340 per sq.ft in 2017, reflecting a 33% drop. The value climbed again to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,100 per sq.ft from the 2024 revision, indicating a 5% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 250%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, placing SUBBULAKSHMI NAGAR 1st STREET's 2024 figure below that median.

• Subbulakshmi Nagar: Rs 2,100 per sq.ft (2024)
• SUBBULAKSHMI NAGAR 2nd STREET: Rs 2,100 per sq.ft (2024)
• SUBBULAKSHMI NAGAR 3rd STREET: Rs 2,100 per sq.ft (2024)
• SUBBULAKSHMI NAGAR 4th STREET: Rs 2,100 per sq.ft (2024)
• Subbulakshmi Nagar Extention: Rs 2,100 per sq.ft (2024)
• Subramani Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in SUBBULAKSHMI NAGAR 1st STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 2,100 per sq.ft, the total guideline value would be Rs 21,00,000. The stamp duty at 7% would amount to Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, making the total charges Rs 1,89,000. It is essential 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 SUBBULAKSHMI NAGAR 1st STREET?

The Villivakkam Sub Registrar Office covers SUBBULAKSHMI NAGAR 1st STREET. The office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a critical factor during property registration in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware that the guideline value is often used to assess the value of the property for these financial obligations.

When registering a property, the guideline value ensures that the transaction is recorded accurately, reflecting the value of the property as determined by the local authorities. This process helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of SUBBULAKSHMI NAGAR 1st STREET?

The current guideline value of SUBBULAKSHMI NAGAR 1st STREET is Rs 2,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,100 per sq.ft in 2024, marking a significant increase of 250% over the years.

What is the median guideline value for streets in Korattur?

The median guideline value for streets in Korattur is Rs 2,500 per sq.ft, which is higher than the current value of SUBBULAKSHMI NAGAR 1st STREET.

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

For a property valued at Rs 21,00,000, the stamp duty would be Rs 1,47,000, and the registration fee would be Rs 42,000, totaling Rs 1,89,000.

Where is the Sub Registrar Office for this street located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.