Guideline Value for Subash Nagar Annex I

Subash Nagar Annex I guideline value

The current guideline value of Subash Nagar Annex I is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Pullilyon village, under the Redhills Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Subash Nagar Annex I has changed

Over the years, the guideline value of Subash Nagar Annex I has seen several revisions. The earliest recorded revision is from 2012, where the guideline value was Rs 500 per sq.ft. This was followed by a decrease to Rs 335 per sq.ft in 2017. Subsequently, the value increased to Rs 500 per sq.ft in 2023, and most recently, it has risen to Rs 550 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the guideline value increased significantly by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pullilyon

In Pullilyon village, there are 77 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 700 per sq.ft, indicating that the guideline value of Subash Nagar Annex I is below the median.

• St. Antony's Avenue: Rs 440 per sq.ft (2024)
• St. Anthony Nagar: Rs 440 per sq.ft (2024)
• Sri Vetrivel Murugan Nagar: Rs 1,560 per sq.ft (2024)
• Sri Thirumalai Nagar: Rs 440 per sq.ft (2024)
• Sundara Vinayagar Koil Street: Rs 440 per sq.ft (2024)
• Sundara Vinayagar Nagar (S.V. Nagar): Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Subash Nagar Annex I

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total to Rs 49,500. It's important to 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 precise calculations.

Which Sub Registrar Office covers Subash Nagar Annex I?

The Sub Registrar Office that covers Subash Nagar Annex I is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your specific SRO, you can find your SRO.

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

The guideline value plays a crucial role during the registration process of property transactions in Pullilyon. 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 buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is essential for calculating the stamp duty and registration fees, which are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Subash Nagar Annex I?

The current guideline value of Subash Nagar Annex I is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 in 2012 to Rs 335 in 2017, then to Rs 500 in 2023, and finally to Rs 550 in 2024.

What is the land classification for Subash Nagar Annex I?

The land classification for Subash Nagar Annex I is Residential Class II Type - I.

Where can I find the registration office for Subash Nagar Annex I?

The registration office for Subash Nagar Annex I is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Subash Nagar Annex I?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 at a rate of 7%.