Guideline Value for Subhash Nagar

Subhash Nagar guideline value

The current guideline value for Subhash Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024. This locality is situated in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Mixed Type - I land.

How the guideline value of Subhash Nagar has changed

Over the years, the guideline value of Subhash Nagar has seen significant changes. In 2003, the guideline value was Rs 503 per sq.ft, which increased to Rs 800 per sq.ft in 2007, marking a rise of 59%. The value further jumped to Rs 3,500 per sq.ft in 2012, a remarkable increase of 338%. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, reflecting a 10% increase from the 2012 figure. It is important to note that there are no figures available for the years 2023, 2017, and 2002 for this street.

Overall, from 2003 to 2024, the guideline value has increased by 665%, showcasing a substantial rise in property valuation in this area.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO with 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 Subhash Nagar's 2024 figure above this median.

• Subham Nagar Part I 10 V: Rs 3,850 per sq.ft (2024)
• Subham 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)
• Subramaniyar Koil 2nd Street: Rs 3,300 per sq.ft (2024)
• Subramaniyar Koil North Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Subhash 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, bringing the total charges to 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subhash Nagar?

The Sub Registrar Office that covers Subhash 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 details.

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

When buying or selling property in Zaminpallavaram, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is used as a base for calculating these charges, ensuring that the transaction is recorded accurately in the official register.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the financial obligations during the property transaction process. Understanding the guideline value helps in making informed decisions regarding property dealings in the area.

Frequently asked questions

What is the current guideline value of Subhash Nagar?

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

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 503 per sq.ft in 2003 to Rs 3,850 per sq.ft in 2024, which is a total increase of 665% over this period.

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

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which registration office covers Subhash Nagar?

Subhash Nagar falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the guideline value determined for properties in Zaminpallavaram?

The guideline value is determined based on various factors and is updated periodically by the Registration Department. It serves as a basis for calculating stamp duty and registration fees during property transactions.