Guideline Value for Subam Nagar

Subam Nagar guideline value

The current guideline value of Subam Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Selavoyal village under the Madhavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Subam Nagar has changed

Since 2012, the guideline value for Subam Nagar has seen several revisions. In 2012, the value was Rs 2,000 per sq.ft, which decreased to Rs 1,675 per sq.ft in 2017. However, this was followed by a significant increase to Rs 2,500 per sq.ft in 2023, and the most recent revision in 2024 raised it further to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

Looking at the changes, from 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 35%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Subam Nagar's 2024 figure above that median.

• S.R. Nagar Extension 2nd Street: Rs 2,200 per sq.ft (2024)
• S.R. Nagar Extension 1st Street: Rs 2,200 per sq.ft (2024)
• S.R. Nagar Extension: Rs 2,200 per sq.ft (2024)
• S.R. Nagar: Rs 2,200 per sq.ft (2024)
• Sugandhammal 1st Street: Rs 3,300 per sq.ft (2024)
• Sugandhammal 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Subam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subam Nagar?

The Sub Registrar Office that covers Subam Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Selavoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When you buy or sell property in this area, the guideline value will influence the overall cost of the transaction. Buyers should be aware that the final registration cost may vary depending on the sale price and the guideline value.

Frequently asked questions

What is the current guideline value of Subam Nagar?

The current guideline value of Subam Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and is now Rs 2,700 per sq.ft in 2024.

What is the land classification of Subam Nagar?

Subam Nagar is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,43,000.