Guideline Value for Subbiya Nagar

Subbiya Nagar guideline value

The current guideline value of Subbiya Nagar, located in Chikkarayapuram village under the Kunrathur SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - I.

How the guideline value of Subbiya Nagar has changed

The guideline value for Subbiya Nagar has seen significant changes over the years. The earliest recorded figure was Rs 41 per sq.ft in 2003, which increased to Rs 200 per sq.ft in 2007. Following this, the value surged to Rs 1,400 per sq.ft in 2012, but then dropped to Rs 938 per sq.ft in 2017. The value saw a substantial rise to Rs 1,800 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 1,980 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 4729%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Chikkarayapuram

In Chikkarayapuram, there are 61 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,430 to Rs 2,800 per sq.ft, with a median value of Rs 1,980 per sq.ft. The guideline value for Subbiya Nagar aligns with this median.

• Subramani Nagar: Rs 1,980 per sq.ft (2024)
• Sueelambal Nagar: Rs 1,870 per sq.ft (2024)
• Sri Venkateswara Nagar I, II, III: Rs 1,980 per sq.ft (2024)
• Sunder Avenue: Rs 1,980 per sq.ft (2024)
• Sunder Avenue Annexe: Rs 1,760 per sq.ft (2024)
• Sri Thangam Avenue Annexe: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Subbiya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subbiya Nagar?

The Sub Registrar Office that covers Subbiya Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Chikkarayapuram. It serves as the basis for calculating the stamp duty and registration fees that need to be paid during the buying or selling of property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the state collects the appropriate revenue based on the value of the transaction.

Frequently asked questions

What is the current guideline value of Subbiya Nagar?

The current guideline value of Subbiya Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 41 per sq.ft in 2003 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 4729% over this period.

What is the land classification of Subbiya Nagar?

The land classification for Subbiya Nagar is Mixed Special Type - I.

Where is the Kunrathur Sub Registrar Office located?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 1,78,200 in fees.