Guideline Value for Subbiah Nagar

Subbiah Nagar guideline value

The current guideline value of Subbiah Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Subbiah Nagar has changed

Over the years, the guideline value of Subbiah Nagar has seen significant changes. The 2007 revision set the value at Rs 750 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012, marking a 167% rise. However, from 2012 to 2017, the value decreased by 33% to Rs 1,340 per sq.ft. The value then increased considerably to Rs 2,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 raised the value to Rs 2,200 per sq.ft, a 10% increase from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 193%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, indicating that Subbiah Nagar's 2024 figure is below this median.

• Subash Nagar: Rs 3,300 per sq.ft (2024)
• State Bank Colony: Rs 3,300 per sq.ft (2024)
• Suthanthrapuram: Rs 1,650 per sq.ft (2024)
• Sweeper Quarters: Rs 1,320 per sq.ft (2024)
• Tambaram Mayor Radhakrishnan Nagar: Rs 1,320 per sq.ft (2024)
• Sri Sakthi nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Subbiah Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 Subbiah Nagar?

The Sub Registrar Office that covers Subbiah Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Tambaram. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these fees are based on a standard valuation of the property.

It is essential for buyers and sellers to be aware of the guideline value as it affects the overall cost of the transaction. The registration office will utilize the guideline value to assess the fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Subbiah Nagar?

The current guideline value of Subbiah Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 750 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, which is a total increase of 193% over the years.

What are the stamp duty and registration fees for properties in Subbiah Nagar?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles the registration for Subbiah Nagar?

The Tambaram Joint 1 Sub Registrar Office handles the registration for Subbiah Nagar, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Subbiah Nagar?

Subbiah Nagar is classified as Residential Class I Type - II, which indicates its suitability for residential development.