Guideline Value for Subhasri Nagar

Subhasri Nagar guideline value

The current guideline value for Subhasri Nagar, located in Mogalivakkam village under the Kunrathur SRO, is Rs 2,970 per sq.ft. This rate is effective from 1 July 2024 and falls under the Residential Special Type - I land classification.

How the guideline value of Subhasri Nagar has changed

The guideline value for Subhasri Nagar has seen several revisions over the years. The earliest recorded revision was in 2007, where the 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, in 2017, the value dropped to Rs 1,809 per sq.ft, a decrease of 33%. The value then rose again to Rs 2,700 per sq.ft in 2023, followed by the current rate of Rs 2,970 per sq.ft from the 2024 revision, which is a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 197%. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

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 also the current guideline value for Subhasri Nagar.

• Subhasri Nagar Extension I: 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

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 fees 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 information.

Which Sub Registrar Office covers Subhasri Nagar?

The Sub Registrar Office that covers Subhasri Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Mogalivakkam, as it determines the minimum price at which properties can be registered. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration regulations.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs in the transaction process. Understanding the guideline value helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Subhasri Nagar?

The current guideline value of Subhasri Nagar 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 other streets in Mogalivakkam with the same guideline value?

Other streets in Mogalivakkam with the same guideline value of Rs 2,970 per sq.ft include Subhasri Nagar Extension I, II, III, IV, and Subramania Swamy Koil Street.

What fees are associated with buying property in Subhasri Nagar?

When buying property in Subhasri Nagar, the fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Subhasri Nagar?

The Sub Registrar Office for Subhasri Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more details online.