Guideline Value for SUBRAMANI NAGAR

Subramani Nagar guideline value

The current guideline value of Subramani Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Class III Type - III.

How the guideline value of Subramani Nagar has changed

The guideline value for Subramani Nagar has undergone several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it then decreased to Rs 1,005 per sq.ft in 2017. The 2023 revision set the value at Rs 1,500 per sq.ft, and the most recent revision in 2024 has raised it to Rs 1,600 per sq.ft.

Between the revisions, there have been notable changes. From 2007 to 2012, the value increased by 500%. The value then decreased by 33% from 2012 to 2017. Following that, there was a substantial increase of 49% from 2017 to 2023, and the latest revision reflects a 7% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 540%.

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 value for these streets is Rs 2,500 per sq.ft, placing Subramani Nagar's 2024 guideline value below that median.

• Subbulakshmi Nagar Extention: Rs 2,100 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Subramani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Subramani Nagar?

The Subramani Nagar area falls under the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Korattur. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

Additionally, the guideline value is essential for establishing a legal framework for property transactions. It ensures that the property is valued fairly for taxation purposes, thus safeguarding the interests of both buyers and sellers.

Frequently asked questions

What is the current guideline value of Subramani Nagar?

The current guideline value of Subramani Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen significant changes, increasing from Rs 250 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 540%.

What is the stamp duty rate in Subramani Nagar?

The stamp duty rate in Subramani Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Subramani Nagar?

The Villivakkam Sub Registrar Office, which covers Subramani Nagar, is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the guideline values of other streets in Korattur?

Other streets in Korattur have guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft, with Subramani Nagar's value being below the median of Rs 2,500 per sq.ft.