Guideline Value for Subash Nagar (Near by

Subash Nagar (Near by guideline value

The current guideline value of Subash Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified under Residential Class I Type - I and falls under the Tambaram Joint 1 SRO.

How the guideline value of Subash Nagar (Near by has changed

The guideline value for Subash Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was later reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value back to Rs 3,000 per sq.ft, and the most recent 2024 revision has set it at Rs 3,300 per sq.ft.

In terms of changes, from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The jump from 2023 to 2024 represents a 10% increase. Overall, the guideline value has increased by 10% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO, with the 2024 guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median value is Rs 3,300 per sq.ft, which aligns with the current guideline value of Subash Nagar.

• Subbiah Nagar: Rs 2,200 per sq.ft (2024)
• State Bank Colony: Rs 3,300 per sq.ft (2024)
• Suthanthrapuram: Rs 1,650 per sq.ft (2024)
• Sweeper Quarters: Rs 1,320 per sq.ft (2024)
• Tambaram Mayor Radhakrishnan Nagar: Rs 1,320 per sq.ft (2024)
• Sri Sakthi Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Subash Nagar (Near by

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. Please note that the 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 (Near by?

The Subash Nagar area is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Subash Nagar?

The current guideline value of Subash Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the classification of land in Subash Nagar?

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

Where can I find the registration office for Subash Nagar?

The registration office for Subash Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. These fees are essential for completing property transactions legally.