Guideline Value for SUBRAMANIYAM NAGAR

Subramaniyam Nagar guideline value

The current guideline value of Subramaniyam Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village under the Thiruvottiyur SRO, classified as Residential Class II Type - II.

How the guideline value of Subramaniyam Nagar has changed

The guideline value for Subramaniyam Nagar has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 500 per sq.ft. This increased significantly to Rs 1,400 per sq.ft in the 2012 revision, marking a 180% rise. However, the value dropped to Rs 938 per sq.ft in the 2017 revision, representing a decrease of 33%. The 2023 revision saw a substantial increase to Rs 1,400 per sq.ft, followed by another rise to the current value of Rs 1,500 per sq.ft in 2024, a change of 7%.

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 200%.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Subramaniyam Nagar is below this median.

• Sudhanthirapuram: Rs 2,150 per sq.ft (2024)
• State Bank Of Colony: Rs 2,800 per sq.ft (2024)
• Teachers Nagar: Rs 1,500 per sq.ft (2024)
• Srinivasa Anvenue: Rs 2,800 per sq.ft (2024)
• Thilagar Nagar: Rs 1,900 per sq.ft (2024)
• Thiruchinaguppam Road: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Subramaniyam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value is Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total to Rs 1,35,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Subramaniyam Nagar?

The Sub Registrar Office that covers Subramaniyam Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Thiruvottiyur. It serves as a benchmark for determining the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are payable during the transaction.

When you register a property, the guideline value helps ensure that the transaction is recorded at a fair value. It is essential for buyers and sellers to be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Subramaniyam Nagar?

The current guideline value of Subramaniyam Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 500 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2024, reflecting an overall increase of 200% over this period.

What is the stamp duty for property in Subramaniyam Nagar?

The stamp duty for property in Subramaniyam Nagar is 7% of the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000.

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

The Sub Registrar Office for Subramaniyam Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What are the other streets in Thiruvottiyur with their guideline values?

Other streets in Thiruvottiyur include Sudhanthirapuram at Rs 2,150 per sq.ft, State Bank Of Colony at Rs 2,800 per sq.ft, and Teachers Nagar at Rs 1,500 per sq.ft, among others.