Guideline Value for Subasri Nagar

Subasri Nagar guideline value

The current guideline value of Subasri Nagar, located in Porur village under the Kunrathur SRO, is Rs 3,960 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Subasri Nagar has changed

The guideline value for Subasri Nagar has undergone several revisions over the years. The earliest figure recorded was Rs 361 per sq.ft in 2002, which increased to Rs 700 per sq.ft in 2003, marking a change of +94%. Following this, the value rose to Rs 1,000 per sq.ft in 2007, reflecting an increase of +43%. The next revision in 2012 saw the value rise to Rs 3,600 per sq.ft, a significant jump of +260%. However, this value dropped to Rs 2,412 per sq.ft in 2017, showing a decrease of -33%. The guideline value then increased to Rs 3,600 per sq.ft in 2023, before reaching the current figure of Rs 3,960 per sq.ft in 2024, which is a change of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +997%. It is important to note that there are no figures recorded for the revisions in years not mentioned in this summary.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value for these streets is Rs 3,960 per sq.ft, which is equal to the current guideline value for Subasri Nagar.

• Subasri Nagar 1st Street: Rs 3,960 per sq.ft (2024)
• Subasri Nagar 2nd Street: Rs 3,960 per sq.ft (2024)
• Subasri Nagar 3rd Street: Rs 3,960 per sq.ft (2024)
• Subasri Nagar 4th Street: Rs 3,960 per sq.ft (2024)
• Subashree Nagar Extn: Rs 3,960 per sq.ft (2024)
• Subasri Nagar 5th Street: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Subasri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value amounts to Rs 39,60,000. The stamp duty at 7% would be Rs 2,77,200, while the registration fee at 2% would be Rs 79,200, resulting in a total of Rs 3,56,400. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subasri Nagar?

The Subasri Nagar area falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is crucial when buying or selling property in Porur, 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 at least equal to the guideline value to avoid any legal complications. The registration process relies heavily on this value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Subasri Nagar?

The current guideline value of Subasri Nagar is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 361 per sq.ft in 2002 to the current Rs 3,960 per sq.ft in 2024, reflecting an overall increase of +997% over the years.

What is the land classification for Subasri Nagar?

The land classification for Subasri Nagar is Residential Special Type - I, indicating its designation for residential purposes.

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

For a property valued at Rs 39,60,000, the stamp duty would be Rs 2,77,200 and the registration fee would be Rs 79,200, totaling Rs 3,56,400.

Which office handles property registrations for Subasri Nagar?

The Kunrathur Sub Registrar Office handles property registrations for Subasri Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.