Guideline Value for Subash Nagar

Subash Nagar guideline value

The current guideline value of Subash Nagar is Rs 505 per sq.ft, effective from 1 July 2024. This area is located in Orathur village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Special Type - III.

How the guideline value of Subash Nagar has changed

The guideline value for Subash Nagar has seen several revisions over the years. In the 2007 revision, the value was Rs 150 per sq.ft, which increased significantly to Rs 500 per sq.ft in the 2012 revision. However, it dropped to Rs 335 per sq.ft in 2017. The 2023 revision raised it to Rs 500 per sq.ft, and the latest revision in 2024 has brought it to Rs 505 per sq.ft. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

When examining the changes between revisions, there was a remarkable increase of 233% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The value then surged by 49% from 2017 to 2023, and finally, there was a slight increase of 1% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 237%.

Guideline values in Orathur

In Orathur village, there are 80 streets under the Gooduvancheri SRO that carry a guideline value for 2024, ranging from Rs 335 to Rs 1,700 per sq.ft. The median guideline value for these streets is Rs 500 per sq.ft, placing Subash Nagar's 2024 figure above this median.

• Sri Vigneshwara Nagar Extn: Rs 400 per sq.ft (2024)
• Sri Vigneshwara Nagar: Rs 400 per sq.ft (2024)
• Sri Thanga Ganesh Nagar: Rs 402 per sq.ft (2024)
• Sri Suraikai Chittar Nagar: Rs 400 per sq.ft (2024)
• Sri Shanmuga Nagar Phase-III: Rs 400 per sq.ft (2024)
• Sri Saravana Nagar Phase I: Rs 500 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 505 per sq.ft, the total guideline value would be Rs 5,05,000. The stamp duty at 7% would amount to Rs 35,350, and the registration fee at 2% would be Rs 10,100, bringing the total cost for these fees to Rs 45,450. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more 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 Orathur

The guideline value plays a crucial role when buying or selling property in Orathur. It is used to determine the stamp duty and registration fees that must be paid during the property registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the value of the property being transacted.

Frequently asked questions

What is the current guideline value of Subash Nagar?

The current guideline value of Subash Nagar is Rs 505 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 505 per sq.ft in 2024, marking an overall increase of 237% over the years.

What is the land classification of Subash Nagar?

Subash Nagar is classified as Residential Special Type - III, which indicates its intended use for residential purposes.

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

The Gooduvancheri Sub Registrar Office covers Subash Nagar and is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated in Subash Nagar?

Stamp duty in Subash Nagar is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.