Guideline Value for Subhasri Nagar Extension III

Subhasri Nagar Extension III guideline value

The current guideline value of Subhasri Nagar Extension III is Rs 2,970 per sq.ft, effective from 1 July 2024. This area is located in Mogalivakkam village under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Subhasri Nagar Extension III has changed

Over the years, the guideline value of Subhasri Nagar Extension III has undergone several revisions. The earliest recorded revision was in 2007, where the guideline value was Rs 1,000 per sq.ft. This value increased significantly to Rs 2,700 per sq.ft in 2012, marking a 170% rise. However, it saw a decrease of 33% to Rs 1,809 per sq.ft in 2017. The value then surged by 49% to Rs 2,700 per sq.ft in 2023, followed by a further increase of 10% to the current value of Rs 2,970 per sq.ft in 2024.

It is important to note that the register does not have figures for the years 2002 and 2003 for this street. Overall, the guideline value has increased by 197% from Rs 1,000 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024.

Guideline values in Mogalivakkam

In Mogalivakkam, there are 98 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, which is the same as the current guideline value for Subhasri Nagar Extension III.

• Subhasri Nagar Extension II: Rs 2,970 per sq.ft (2024)
• Subhasri Nagar Extension IV: Rs 2,970 per sq.ft (2024)
• Subhasri Nagar Extension I: Rs 2,970 per sq.ft (2024)
• Subhasri Nagar: Rs 2,970 per sq.ft (2024)
• Subramania Swamy Koil Street: Rs 2,970 per sq.ft (2024)
• Sundara Vadivel Nagar: Rs 2,860 per sq.ft (2024)

Stamp duty and registration fee for property in Subhasri Nagar Extension III

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, while the registration fee at 2% would be Rs 59,400. Together, these fees would total Rs 2,67,300. 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 Subhasri Nagar Extension III?

The Subhasri Nagar Extension III area falls under the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Mogalivakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the property registration process. Buyers and sellers should be aware that the guideline value is used to ensure transparency and fairness in property transactions.

When registering a property, the guideline value helps in calculating the applicable stamp duty and registration fees based on the property's assessed value. This ensures that both parties in the transaction are aware of the financial obligations involved in the process.

Frequently asked questions

What is the current guideline value of Subhasri Nagar Extension III?

The current guideline value of Subhasri Nagar Extension III is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,000 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, reflecting an overall increase of 197% over the years.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 29,70,000, the stamp duty would be Rs 2,07,900 and the registration fee would be Rs 59,400, totaling Rs 2,67,300.

Which office handles property registrations for Subhasri Nagar Extension III?

The Kunrathur Sub Registrar Office handles property registrations for Subhasri Nagar Extension III, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Subhasri Nagar Extension III?

Subhasri Nagar Extension III is classified as Residential Special Type - I, indicating its suitability for residential development.