Guideline Value for Subba Colony (Subba Reddy Colony)

Subba Colony (Subba Reddy Colony) guideline value

The current guideline value of Subba Colony (Subba Reddy Colony) is Rs 5,000 per sq.ft, effective from 1 July 2024. This area is located in Alandur village, under the Alandur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Subba Colony (Subba Reddy Colony) has changed

Over the years, the guideline value of Subba Colony has seen several revisions. The 2012 revision set the value at Rs 4,500 per sq.ft, which was then decreased to Rs 3,015 per sq.ft in 2017. However, the value increased significantly to Rs 4,500 per sq.ft in 2023 and reached Rs 5,000 per sq.ft in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. The change from 2023 to 2024 reflects an increase of 11%. Overall, from 2012 to 2024, the guideline value has increased by 11%. The register has no figure for the years 2002, 2003, and 2007 for this street.

Guideline values in Alandur

Alandur village has 40 streets under the Alandur SRO carrying a 2024 guideline value ranging from Rs 3,900 to Rs 11,000 per sq.ft, with a median value of Rs 5,000 per sq.ft. The guideline value of Subba Colony (Subba Reddy Colony) aligns with this median.

• Thadikkara Swamy Street: Rs 5,000 per sq.ft (2024)
• Sowri Street: Rs 5,000 per sq.ft (2024)
• U.V. Samynathan Street: Rs 5,000 per sq.ft (2024)
• Sanniyasi Subedar Street: Rs 5,000 per sq.ft (2024)
• Sanniyasi Nara Lane: Rs 3,900 per sq.ft (2024)
• Vembuli Subethar Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Subba Colony (Subba Reddy Colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would amount to Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, totaling Rs 4,50,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Subba Colony (Subba Reddy Colony)?

The Sub Registrar Office that covers Subba Colony (Subba Reddy Colony) is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Alandur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the state collects the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Subba Colony (Subba Reddy Colony)?

The current guideline value of Subba Colony (Subba Reddy Colony) is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,500 per sq.ft in 2012 to Rs 3,015 per sq.ft in 2017, then to Rs 4,500 per sq.ft in 2023, and finally to Rs 5,000 per sq.ft in 2024.

What is the land classification of Subba Colony (Subba Reddy Colony)?

Subba Colony (Subba Reddy Colony) is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Subba Colony?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is charged at 2%. For a property valued at Rs 50,00,000, the total fees would be Rs 4,50,000.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. This office handles the registration of properties in the area.