Guideline Value for Subash Nagar ( Ward No.24 )

Subash Nagar ( Ward No.24 ) guideline value

The current guideline value of Subash Nagar ( Ward No.24 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Subash Nagar ( Ward No.24 ) has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. Since then, there has been an increase of 8%, bringing the current value to Rs 1,300 per sq.ft as of the 2024 revision. The register has no figure for the years 2023, 2017, 2007, 2003, and 2002 for this street.

Therefore, the only revisions available are from 2012 and 2024, showing a clear upward movement in the guideline value over this period.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, indicating that Subash Nagar's 2024 figure is below this median.

• Subash Nagar, Ponniammanmedu (Ward-24): Rs 1,300 per sq.ft (2024)
• Subash Nagar: Rs 1,300 per sq.ft (2024)
• Subam Street 4th Street: Rs 1,600 per sq.ft (2024)
• Subam Street 3rd Street: Rs 1,600 per sq.ft (2024)
• Subam Street 2nd Street: Rs 1,600 per sq.ft (2024)
• Subam Street 1st Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Subash Nagar ( Ward No.24 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. 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 details.

Which Sub Registrar Office covers Subash Nagar ( Ward No.24 )?

The Sub Registrar Office that covers Subash Nagar ( Ward No.24 ) 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 Madhavaram

The guideline value plays a crucial role during property registration in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers must ensure that the sale price is at least equal to the guideline value to comply with registration norms.

Frequently asked questions

What is the current guideline value of Subash Nagar ( Ward No.24 )?

The current guideline value of Subash Nagar ( Ward No.24 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2012 revision, the guideline value has increased from Rs 1,200 per sq.ft to Rs 1,300 per sq.ft in 2024, representing an 8% increase. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the classification of land in Subash Nagar?

Subash Nagar is classified as Residential Class III Type - I. This classification is important for determining the guideline value and other regulatory aspects of property transactions.

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

The Sub Registrar Office for Subash Nagar ( Ward No.24 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Subash Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a property with a guideline value of Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.