Guideline Value for Subham Nagar

Subham Nagar guideline value

The current guideline value of Subham Nagar, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 3,850 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Mixed Type - I.

How the guideline value of Subham Nagar has changed

Over the years, the guideline value of Subham Nagar has undergone several revisions. The earliest recorded figure is from 2003 at Rs 157 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2007, marking a change of +282%. This was followed by a substantial rise to Rs 3,500 per sq.ft in 2012, an increase of +483%. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, reflecting a drop of -33%. The most recent revision in 2024 shows a significant increase to Rs 3,850 per sq.ft, which is a rise of +64% from the 2017 figure. Notably, there are no figures available for the years 2023 and 2002 in the register for this street.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by +2352%. This remarkable growth highlights the changing landscape of property values in the area.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Subham Nagar's 2024 figure above that median.

• Subham Nagar Part I 10 V: Rs 3,850 per sq.ft (2024)
• Subhash Nagar: Rs 3,850 per sq.ft (2024)
• Subramaniya Nagar: Rs 2,160 per sq.ft (2024)
• Subramaniyar Koil 1st Street: Rs 3,300 per sq.ft (2024)
• Subamangala Nagar: Rs 3,300 per sq.ft (2024)
• Subramaniyar Koil 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Subham Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subham Nagar?

The Sub Registrar Office that covers Subham Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Zaminpallavaram. It serves as the minimum value for which a property can be registered, ensuring that the transaction is documented at a fair value as determined by the authorities. This helps in assessing the applicable stamp duty and registration fees during the property transaction process.

When a buyer or seller engages in a property transaction, the guideline value is referenced to determine the official value of the property. This ensures that the transaction complies with local regulations and that the appropriate taxes are collected based on the established guideline values.

Frequently asked questions

What is the current guideline value of Subham Nagar?

The current guideline value of Subham Nagar is Rs 3,850 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 157 per sq.ft in 2003 to Rs 3,850 per sq.ft in 2024, marking an overall increase of +2352%.

What is the land classification for Subham Nagar?

The land classification for Subham Nagar is Mixed Type - I, indicating a blend of various land uses in the area.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 38,50,000, the total fees would amount to Rs 3,46,500.

Where is the Sub Registrar Office for Subham Nagar located?

The Sub Registrar Office covering Subham Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.