Guideline Value for SUBBULAKSHMI NAGAR 4th STREET

SUBBULAKSHMI NAGAR 4th STREET guideline value

The current guideline value of SUBBULAKSHMI NAGAR 4th STREET is Rs 2,100 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the jurisdiction of the Villivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of SUBBULAKSHMI NAGAR 4th STREET has changed

The guideline value for SUBBULAKSHMI NAGAR 4th STREET has undergone several revisions over the years. The earliest recorded figure is from 2007, when the value was Rs 600 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a substantial rise of 233%. However, the value saw a decrease to Rs 1,340 per sq.ft in 2017, a drop of 33%. The subsequent revision in 2023 brought the value back up to Rs 2,000 per sq.ft, and the latest revision in 2024 set the current value at Rs 2,100 per sq.ft, reflecting a 5% increase.

There are no recorded figures for the years 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 that have a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft, with a median value of Rs 2,500 per sq.ft. The guideline value of SUBBULAKSHMI NAGAR 4th STREET is below this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 2,100 per sq.ft, the guideline value amounts to Rs 21,00,000. The stamp duty is charged at 7%, which totals Rs 1,47,000, and the registration fee at 2% amounts to Rs 42,000. Together, the total cost for stamp duty and registration fee is Rs 1,89,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers SUBBULAKSHMI NAGAR 4th STREET?

The Sub Registrar Office that covers SUBBULAKSHMI NAGAR 4th STREET is the Villivakkam Sub Registrar Office, 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 crucial factor when buying or selling property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that the guideline value is often used to assess the legal value of a property for registration purposes.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of SUBBULAKSHMI NAGAR 4th STREET?

The current guideline value of SUBBULAKSHMI NAGAR 4th 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, reflecting a total increase of 250% over the years.

What is the land classification for SUBBULAKSHMI NAGAR 4th STREET?

SUBBULAKSHMI NAGAR 4th STREET is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for this street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost for these fees would amount to Rs 1,89,000.

Where is the Sub Registrar Office for this area located?

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