Guideline Value for Subash Nagar

Subash Nagar guideline value

The current guideline value of Subash Nagar, located in Adhanoor village under the Gooduvancheri SRO, is Rs 1,000 per sq.ft, effective from 1 July 2024. This area falls under the Residential Special Type - I land classification.

How the guideline value of Subash Nagar has changed

Over the years, the guideline value of Subash Nagar has seen several revisions. The earliest recorded figure is from 2007, when the guideline value was Rs 200 per sq.ft. This value increased significantly to Rs 1,000 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 670 per sq.ft in 2017, a drop of 33%. The subsequent revisions in 2023 and 2024 saw the value stabilize at Rs 1,000 per sq.ft, indicating no change between these two years.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 400%.

Guideline values in Adhanoor

In Adhanoor, there are 169 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 670 to Rs 3,000 per sq.ft. The median value for these streets is Rs 1,000 per sq.ft, which is equal to the guideline value of Subash Nagar.

• Sun City: Rs 1,941 per sq.ft (2024)
• Sri Vel Nnagar: Rs 1,000 per sq.ft (2024)
• Sri Vasudev Nagar Extn: Rs 1,000 per sq.ft (2024)
• Sri Vasudev Nagar: Rs 1,000 per sq.ft (2024)
• Sri Swamynathan Nagar: Rs 1,000 per sq.ft (2024)
• Sri Sathyasai Nagar: Rs 670 per sq.ft (2024)

Stamp duty and registration fee for property in Subash Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty is charged at 7%, resulting in Rs 70,000, while the registration fee at 2% amounts to Rs 20,000. Thus, the total cost for these fees together is Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for a more precise calculation based on your specific property details.

Which Sub Registrar Office covers Subash Nagar?

The Sub Registrar Office that covers Subash Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Adhanoor, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the buyer and seller must ensure that the sale price is not lower than the guideline value to avoid legal issues. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Subash Nagar?

The current guideline value of Subash Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value of Subash Nagar changed over the years?

The guideline value has varied over the years, with significant changes noted from Rs 200 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, followed by a decrease to Rs 670 per sq.ft in 2017, and then stabilizing at Rs 1,000 per sq.ft in 2023 and 2024.

What is the land classification for Subash Nagar?

Subash Nagar falls under the Residential Special Type - I land classification, which is designated for specific residential purposes.

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

The stamp duty for properties in Subash Nagar is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 90,000.

Which office handles registrations for properties in Subash Nagar?

The Gooduvancheri Sub Registrar Office handles registrations for properties in Subash Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.