Guideline Value for Subhasri Nagar Extension IV

Subhasri Nagar Extension IV guideline value

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

How the guideline value of Subhasri Nagar Extension IV has changed

The guideline value for Subhasri Nagar Extension IV has seen several revisions over the years. In 2007, the value was Rs 750 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012, marking a 260% rise. However, the value dropped to Rs 1,809 per sq.ft in 2017, a decrease of 33% from the previous revision. The guideline value then rose to Rs 2,700 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 2,970 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 296%.

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 guideline value is Rs 2,970 per sq.ft, which is equal to the current value of Subhasri Nagar Extension IV.

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

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. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subhasri Nagar Extension IV?

The Subhasri Nagar Extension IV area is covered by 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 an essential factor when registering property transactions in Mogalivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is critical for calculating the applicable fees and ensuring compliance with local regulations during the registration process.

Frequently asked questions

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

The current guideline value of Subhasri Nagar Extension IV 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 750 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, representing an overall increase of 296% over the years.

What is the stamp duty rate for property in Subhasri Nagar Extension IV?

The stamp duty rate for property transactions in Subhasri Nagar Extension IV is 7% of the guideline value or sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Subhasri Nagar Extension IV?

Subhasri Nagar Extension IV is classified as Residential Special Type - I, which indicates its intended use for residential purposes.