Guideline Value for SUBBULAKSHMI NAGAR EXTENTION

Subbulakshmi Nagar Extention guideline value

The current guideline value for Subbulakshmi Nagar Extention is Rs 2,100 per sq.ft, effective from 1 July 2024. This area is located in Korattur village and falls under the Villivakkam SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Subbulakshmi Nagar Extention has changed

In the most recent revision for 2024, the guideline value was set at Rs 2,100 per sq.ft, an increase from Rs 2,000 per sq.ft in the 2023 revision. This change represents a 5% increase from the previous year. Looking back further, the 2017 revision recorded a guideline value of Rs 1,340 per sq.ft, which was a significant increase of 49% compared to the 2023 figure. The 2012 revision also had a guideline value of Rs 2,000 per sq.ft, indicating a decrease of 33% from the 2017 value. Overall, from 2012 to 2024, the guideline value has increased by 5%.

The register has no figures for the years 2002, 2003, and 2007 for this street.

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, making the current value for Subbulakshmi Nagar Extention below this median.

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

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

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subbulakshmi Nagar Extention?

The Sub Registrar Office that covers Subbulakshmi Nagar Extention 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 registering property transactions in Korattur. It serves as a benchmark for determining the minimum price at which properties can be sold or bought, ensuring that the registration process adheres to government regulations.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price, which can influence the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Subbulakshmi Nagar Extention?

The current guideline value of Subbulakshmi Nagar Extention 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 seen several changes, from Rs 2,000 per sq.ft in 2023 to Rs 2,100 per sq.ft in 2024, a 5% increase. The value was Rs 1,340 per sq.ft in 2017, showing a 49% increase from the 2023 figure.

What is the land classification for Subbulakshmi Nagar Extention?

The land classification for Subbulakshmi Nagar Extention is Residential Class III Type - I, indicating the type of residential development permitted in the area.

Where can I find the registration office for this area?

The registration office for Subbulakshmi Nagar Extention is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 21,00,000, the total fees would amount to Rs 1,89,000.