Guideline Value for SUBIKSHA GARDENS

Subiksha Gardens guideline value

The current guideline value of Subiksha Gardens in Karunakacherry village, under the Salavakkam SRO, is Rs 100 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class I Type - I land classification.

How the guideline value of Subiksha Gardens has changed

Over the years, the guideline value for Subiksha Gardens has seen several revisions. The 2012 revision set the value at Rs 100 per sq.ft, which was then followed by a decrease to Rs 67 per sq.ft in the 2017 revision. This marked a significant drop of 33%. However, the value rebounded to Rs 100 per sq.ft in the 2023 revision and remained unchanged in the 2024 revision, reflecting a 49% increase from the 2017 figure.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Therefore, the revisions we have are limited to 2012, 2017, 2023, and 2024.

Guideline values in Karunakacherry

In Karunakacherry, there are 10 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 200 per sq.ft, with the median being Rs 100 per sq.ft. The guideline value for Subiksha Gardens aligns with this median.

• Sri Vijayalakshmi Nagar: Rs 150 per sq.ft (2024)
• Sachin Nagar Extension: Rs 100 per sq.ft (2024)
• Sachin Nagar: Rs 100 per sq.ft (2024)
• New Laural Nagar Extension: Rs 151 per sq.ft (2024)
• New Laural Nagar: Rs 151 per sq.ft (2024)
• Muthamil Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Subiksha Gardens

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, while the registration fee at 2% would be Rs 2,000, bringing the total fees to Rs 9,000. 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 Subiksha Gardens?

The Sub Registrar Office that covers Subiksha Gardens is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Karunakacherry. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value is used to assess the official value of the property for these purposes.

When a property is sold, the registration office will use the guideline value to calculate the applicable fees. This ensures that the transaction is recorded accurately and that the correct amount of tax is collected based on the established guideline value.

Frequently asked questions

What is the current guideline value of Subiksha Gardens?

The current guideline value of Subiksha Gardens is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Subiksha Gardens has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then back to Rs 100 per sq.ft in 2023 and 2024.

What is the land classification for Subiksha Gardens?

Subiksha Gardens falls under the Residential Class I Type - I land classification.

What are the stamp duty and registration fees for a property in Subiksha Gardens?

For a 1,000 sq.ft property at the guideline value of Rs 100 per sq.ft, the total fees would amount to Rs 9,000, which includes stamp duty and registration fees.

Which office handles registrations for Subiksha Gardens?

The Salavakkam Sub Registrar Office handles registrations for Subiksha Gardens, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.