Guideline Value

Corporate

Guideline Value for Subhash Nagar

₹440/sq.ft.

The guideline value for Subhash Nagar in Payasampakkam village (Redhills SRO, Chennai zone) is Rs 440 per sq.ft, effective 1 July 2024. It was Rs 400 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Payasampakkam

Village

Redhills

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹440 /sq.ft.
From 1-4-2023 ₹400 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹268 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹400 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹300 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹22 /sq.ft.
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.
044-29570109
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]

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Subhash Nagar guideline value

The current guideline value of Subhash Nagar, located in Payasampakkam village under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Subhash Nagar has changed

The guideline value for Subhash Nagar has seen several revisions over the years. Starting from Rs 22 per sq.ft in 2003, the value increased significantly to Rs 300 per sq.ft in 2007. It then rose to Rs 400 per sq.ft in 2012, but saw a decrease to Rs 268 per sq.ft in 2017. The value then increased to Rs 400 per sq.ft in 2023, and is now set at Rs 440 per sq.ft from the 2024 revision. Notably, there is no figure for this street in the 2002 revision.

Between revisions, the changes are noteworthy. The increase from 2023 to 2024 is +10%. From 2017 to 2023, the increase was +49%. The revision from 2012 to 2017 saw a decrease of -33%, while the increase from 2007 to 2012 was +33%. The most dramatic change occurred from 2003 to 2007, with an increase of +1264%. Overall, from 2003 to 2024, the guideline value has increased by +1900%.

Guideline values in Payasampakkam

In Payasampakkam, there are 20 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 660 per sq.ft, with a median value of Rs 550 per sq.ft. Subhash Nagar's 2024 figure of Rs 440 per sq.ft is below this median.

Stamp duty and registration fee for property in Subhash Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total fees to Rs 39,600. 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 Subhash Nagar?

Subhash Nagar falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Payasampakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Subhash Nagar?

The current guideline value of Subhash Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 22 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, with various increases and decreases noted in the revisions.

What is the land classification for Subhash Nagar?

Subhash Nagar is classified as Residential Class II Type - I, indicating its designation for residential purposes.

Where can I find the Redhills Sub Registrar Office?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Subhash Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 4,40,000 would incur a stamp duty of Rs 30,800 at 7%.