Guideline Value for Subamangalam Annexer Nagar

Subamangalam Annexer Nagar guideline value

The current guideline value of Subamangalam Annexer Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Alamathi village, under the Redhills SRO, and is classified as Residential Class I Type - I.

How the guideline value of Subamangalam Annexer Nagar has changed

The guideline value for Subamangalam Annexer Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 700 per sq.ft in 2023, and then further rose to Rs 770 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has risen by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Alamathi

In Alamathi village, there are 54 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,100 per sq.ft, with a median value of Rs 550 per sq.ft. The guideline value for Subamangalam Annexer Nagar is above this median.

• Sri Vijayalakshmi Nagar Extn-1: Rs 770 per sq.ft (2024)
• Sri Vijayalakshmi Nagar: Rs 770 per sq.ft (2024)
• Sri Venkateshwara Nagar Modern Town: Rs 550 per sq.ft (2024)
• Sri Venkatesa Nagar: Rs 550 per sq.ft (2024)
• Sri Vari Garden: Rs 1,100 per sq.ft (2024)
• Sri Ram Nagar West: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Subamangalam Annexer Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. It is important to note that 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 Subamangalam Annexer Nagar?

The Subamangalam Annexer Nagar is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Alamathi. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is assessed to ensure that the transaction is accurately recorded. This helps maintain transparency in property dealings and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Subamangalam Annexer Nagar?

The current guideline value of Subamangalam Annexer Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification for Subamangalam Annexer Nagar?

Subamangalam Annexer Nagar is classified as Residential Class I Type - I.

Where can I find the Redhills Sub Registrar Office?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 53,900.