Guideline Value for Subhedar M.E Selvaraj Gandhimadhi Nagar

Subhedar M.E Selvaraj Gandhimadhi Nagar guideline value

The current guideline value for Subhedar M.E Selvaraj Gandhimadhi Nagar is Rs 350 per sq.ft, effective from 1 July 2024. This area is located in Kizhottivakkam village, under the Walajabad SRO, and is classified as Residential Class I Type - I.

How the guideline value of Subhedar M.E Selvaraj Gandhimadhi Nagar has changed

In the 2012 revision, the guideline value was set at Rs 350 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 234 per sq.ft, representing a decrease of 33%. The value then increased by 50% to Rs 350 per sq.ft in the 2023 revision, and it has remained the same in the 2024 revision, showing no change from the previous year.

There are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 350 per sq.ft.

Guideline values in Kizhottivakkam

In Kizhottivakkam, there are 12 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 750 per sq.ft, with a median value of Rs 510 per sq.ft. The guideline value for Subhedar M.E Selvaraj Gandhimadhi Nagar is below this median.

• Unnamed Layout-S.No:3/2d: Rs 500 per sq.ft (2024)
• S.D.Garden: Rs 750 per sq.ft (2024)
• Sai Nagar: Rs 350 per sq.ft (2024)
• Ram Balaji Nagar: Rs 520 per sq.ft (2024)
• Jayam Nagar: Rs 750 per sq.ft (2024)
• Balu Garden -II: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Subhedar M.E Selvaraj Gandhimadhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total fees to Rs 31,500. 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 Subhedar M.E Selvaraj Gandhimadhi Nagar?

The Sub Registrar Office that covers Subhedar M.E Selvaraj Gandhimadhi Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration process of property transactions in Kizhottivakkam. It serves as a reference point for calculating the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, buyers must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Subhedar M.E Selvaraj Gandhimadhi Nagar?

The current guideline value for Subhedar M.E Selvaraj Gandhimadhi Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen a decrease from Rs 350 per sq.ft in 2012 to Rs 234 per sq.ft in 2017, followed by an increase back to Rs 350 per sq.ft in 2023 and 2024.

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

For a property valued at Rs 3,50,000, the stamp duty would be Rs 24,500 and the registration fee would be Rs 7,000, totaling Rs 31,500.

Which office handles property registration for this area?

The Walajabad Sub Registrar Office handles property registration for Subhedar M.E Selvaraj Gandhimadhi Nagar, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is the guideline value determined in Kizhottivakkam?

The guideline value in Kizhottivakkam is determined based on various factors and is updated periodically. The current values range from Rs 200 to Rs 750 per sq.ft, with a median of Rs 510 per sq.ft for the area.