Guideline Value for Subasree Nagar

Subasree Nagar guideline value

The current guideline value of Subasree Nagar, located in Mevaloorkuppam village under the Sriperumpudur SRO, is Rs 300 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Subasree Nagar has changed

The guideline value for Subasree Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 300 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 201 per sq.ft. Following this, the 2023 revision brought the value back to Rs 300 per sq.ft, which stayed the same in the 2024 revision, resulting in a change of +0% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 300 per sq.ft.

Between the 2017 and 2023 revisions, there was a significant increase of +49%. The 2012 to 2017 period saw a decrease of -33%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Mevaloorkuppam

In Mevaloorkuppam, there are 69 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 2,400 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value of Subasree Nagar is below this median.

• Sun Tech Co-op City: Rs 900 per sq.ft (2024)
• Thiruvalluvar Street: Rs 300 per sq.ft (2024)
• Sree Sayee Nagar: Rs 900 per sq.ft (2024)
• Vasan Nagar: Rs 400 per sq.ft (2024)
• Venkateswara Nagar: Rs 300 per sq.ft (2024)
• Venkateswara Nagar - II: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Subasree Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subasree Nagar?

The Sub Registrar Office that covers Subasree Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Mevaloorkuppam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with registration requirements.

When a property is sold, the guideline value will influence the stamp duty and registration fees applicable. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Subasree Nagar?

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

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft from 2012 to 2024, with a notable decrease to Rs 201 per sq.ft in 2017 and an increase back to Rs 300 per sq.ft in 2023.

What is the land classification for Subasree Nagar?

Subasree Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 and the registration fee would be Rs 6,000, totaling Rs 27,000.

Which office handles registrations for Subasree Nagar?

The Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone, handles registrations for Subasree Nagar.