Guideline Value for Subhasri Nagar Extension II

Subhasri Nagar Extension II guideline value

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

How the guideline value of Subhasri Nagar Extension II has changed

The guideline value for Subhasri Nagar Extension II has undergone several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft. This increased significantly to Rs 2,700 per sq.ft in 2012, marking a 170% rise. However, it then decreased to Rs 1,809 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase to Rs 2,700 per sq.ft in 2023, which was a 49% rise. The most recent revision in 2024 set the guideline value at Rs 2,970 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register. Overall, from 2007 to 2024, the guideline value has increased by 197%.

Guideline values in Mogalivakkam

In Mogalivakkam, there are 98 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median guideline value is Rs 2,970 per sq.ft, which is equal to the 2024 figure for Subhasri Nagar Extension II.

• Subhasri Nagar Extension I: Rs 2,970 per sq.ft (2024)
• Subhasri Nagar Extension III: Rs 2,970 per sq.ft (2024)
• Subhasri Nagar: Rs 2,970 per sq.ft (2024)
• Subhasri Nagar Extension IV: 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 II

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, and the registration fee at 2% would be Rs 59,400, bringing the total to 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subhasri Nagar Extension II?

The Subhasri Nagar Extension II area is covered by 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 Mogalivakkam

The guideline value is a crucial component in the registration process when buying or selling property in Mogalivakkam. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is used to determine the official value of the transaction. This value is essential for both the buyer and seller to ensure that the correct fees are calculated and paid to the government.

Frequently asked questions

What is the current guideline value for Subhasri Nagar Extension II?

The current guideline value for Subhasri Nagar Extension II 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 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 Subhasri Nagar Extension II?

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 registration for Subhasri Nagar Extension II?

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

What is the land classification for Subhasri Nagar Extension II?

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