Guideline Value for Subhasri Nagar Extension I

Subhasri Nagar Extension I guideline value

The current guideline value of Subhasri Nagar Extension I 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 I has changed

Over the years, the guideline value for Subhasri Nagar Extension I has seen significant changes. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased to Rs 2,700 per sq.ft in 2012, marking a substantial rise of 170%. However, from 2012 to 2017, the value dropped by 33% to Rs 1,809 per sq.ft. The next revision in 2023 saw an increase of 49%, bringing the value to Rs 2,700 per sq.ft, and the most recent revision in 2024 raised it by 10% to Rs 2,970 per sq.ft.

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 197%.

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 is Rs 2,970 per sq.ft, which is the same as the guideline value for Subhasri Nagar Extension I.

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

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 and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Subhasri Nagar Extension I?

The Sub Registrar Office that covers Subhasri Nagar Extension I is 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 in the registration process of property transactions in Mogalivakkam. It serves as a benchmark for determining the minimum value of properties for the purpose of stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value as it impacts the overall cost of the transaction. Buyers should ensure that the sale price is aligned with the guideline value to avoid discrepancies during registration.

Frequently asked questions

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

The current guideline value of Subhasri Nagar Extension I 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, showing an overall increase of 197% over the years.

What are the stamp duty and registration fees for a 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 in Subhasri Nagar Extension I?

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

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the minimum value for properties during registration, influencing the stamp duty and registration fees applicable to the transaction.