Guideline Value for Subbarayan Nagar

Subbarayan Nagar guideline value

The current guideline value of Subbarayan Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Kovur village and falls under the Kunrathur SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Subbarayan Nagar has changed

The guideline value for Subbarayan Nagar has undergone several revisions over the years. In 2007, the rate was Rs 250 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a rise of 380%. However, from 2012 to 2017, the value decreased to Rs 804 per sq.ft, a drop of 33%. The subsequent revision in 2023 saw an increase to Rs 1,200 per sq.ft, followed by the current value of Rs 1,320 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 428%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Kovur

Kovur village has a total of 91 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value for Subbarayan Nagar is below this median.

• S.S. Nagar: Rs 1,650 per sq.ft (2024)
• S.R.S.Nagar: Rs 1,320 per sq.ft (2024)
• Sri Visalathchi Nagar: Rs 1,650 per sq.ft (2024)
• Sri Vijayalakshmi Nagar: Rs 1,650 per sq.ft (2024)
• Sundaresapuram: Rs 1,650 per sq.ft (2024)
• Sundareswarar Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Subbarayan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subbarayan Nagar?

The Sub Registrar Office that covers Subbarayan Nagar is 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 Kovur

The guideline value is an important factor when buying or selling property in Kovur, as it determines the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware of the current guideline value to ensure they are compliant with the registration requirements.

When registering a property, the guideline value serves as the baseline for calculating the necessary fees. It is essential for both parties to agree on the sale price, as the higher of the sale price or the guideline value will be used to calculate the applicable duties.

Frequently asked questions

What is the current guideline value of Subbarayan Nagar?

The current guideline value of Subbarayan Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 428% over the years.

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

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400, and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which Sub Registrar Office covers Subbarayan Nagar?

The Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, covers Subbarayan Nagar.

What is the land classification of Subbarayan Nagar?

Subbarayan Nagar is classified as Residential Special Type - II, which is important for understanding its usage and potential development.