Guideline Value for Subash Nagar

Subash Nagar guideline value

The current guideline value of Subash Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Subash Nagar has changed

The guideline value for Subash Nagar has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 1,200 per sq.ft. The most recent revision, effective from 1 July 2024, increased this value to Rs 1,300 per sq.ft, marking an 8% increase since 2012. The register has no figures for the years 2002, 2003, 2007, 2017, and 2023 for this street.

In summary, the guideline value for Subash Nagar rose from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024. This increase reflects changes in the valuation of properties in the area, although specific figures for the intervening years are not available.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. The median guideline value in this area is Rs 1,600 per sq.ft, placing Subash Nagar's current value below this median.

• Subash Nagar, Ponniammanmedu (Ward-24): Rs 1,300 per sq.ft (2024)
• Subash Nagar (Ward No.24): 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subash Nagar?

The Sub Registrar Office covering Subash Nagar 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 is a critical component in the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of the guideline value to avoid underreporting the sale price, which could lead to legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Subash Nagar?

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

How has the guideline value changed over the years?

The guideline value increased from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, which is an 8% increase. There are no recorded figures for the years 2003, 2007, 2017, and 2023 for this street.

What is the land classification of Subash Nagar?

Subash Nagar is classified as Residential Class III Type - I. This classification indicates the type of development and usage permitted in the area.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Subash Nagar located?

The Sub Registrar Office for Subash Nagar is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.