Guideline Value for Subamangala Nagar

Subamangala Nagar guideline value

The current guideline value of Subamangala Nagar, located in Perumattu Nellore village, is Rs 700 per sq.ft, effective from the 2024 revision. The land classification for this area is Residential Special Type - II, and it falls under the Chengleput Joint II SRO.

How the guideline value of Subamangala Nagar has changed

The guideline value for Subamangala Nagar has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 175 per sq.ft, which increased to Rs 500 per sq.ft in 2012, marking a 186% increase. However, this was followed by a decrease to Rs 335 per sq.ft in 2017, which represented a 33% drop. The most recent revisions in 2023 and 2024 have maintained the value at Rs 700 per sq.ft, showing no change from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 300%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 500 to Rs 2,850 per sq.ft. The median value is Rs 700 per sq.ft, which is equal to the current value of Subamangala Nagar.

• Sr Ruthraash Avenue: Rs 1,500 per sq.ft (2024)
• Suka Dev Residency: Rs 500 per sq.ft (2024)
• Sri Vaishnavi Nagar: Rs 500 per sq.ft (2024)
• Sri Sathya Sai Nagar Phase-III: Rs 700 per sq.ft (2024)
• Sri Sathya Sai Nagar Phase-II: Rs 700 per sq.ft (2024)
• Sri Sathya Sai Nagar Extension: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Subamangala Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subamangala Nagar?

The Sub Registrar Office that covers Subamangala Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Perumattu Nellore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that both the government and the seller are protected during the transaction.

Frequently asked questions

What is the current guideline value of Subamangala Nagar?

The current guideline value of Subamangala Nagar is Rs 700 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has increased from Rs 175 per sq.ft in 2007 to Rs 700 per sq.ft in 2024, which is an overall increase of 300%.

What is the land classification for Subamangala Nagar?

Subamangala Nagar is classified as Residential Special Type - II.

What are the stamp duty and registration fees for property in Subamangala Nagar?

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000.

Which office handles registrations for Subamangala Nagar?

The Chengleput Joint II Sub Registrar Office handles registrations for Subamangala Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.