Guideline Value for Subiksham Nagar Phase-II

Subiksham Nagar Phase-II guideline value

The current guideline value of Subiksham Nagar Phase-II is Rs 126 per sq.ft, effective from 1 July 2024. This area is located in Pusivakkam village and falls under the Walajabad SRO. The land classification for this locality is Residential Class III Type - I.

How the guideline value of Subiksham Nagar Phase-II has changed

The guideline value for Subiksham Nagar Phase-II has seen several revisions over the years. The 2012 revision set the value at Rs 125 per sq.ft, which then decreased to Rs 84 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased by 50% to reach Rs 126 per sq.ft, a figure that remained unchanged in the 2024 revision.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by just 1%.

Guideline values in Pusivakkam

In Pusivakkam, there are 22 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 598 per sq.ft. The median value for these streets is Rs 150 per sq.ft, indicating that Subiksham Nagar Phase-II's current guideline value is below this median.

• Subiksham Nagar: Rs 250 per sq.ft (2024)
• Thamizh nagar: Rs 126 per sq.ft (2024)
• Sri Sai Baba Nagar: Rs 126 per sq.ft (2024)
• Sri kamatchi nagar: Rs 100 per sq.ft (2024)
• Sri Chellammal Nagar: Rs 150 per sq.ft (2024)
• Sai Thiya Nagar: Rs 126 per sq.ft (2024)

Stamp duty and registration fee for property in Subiksham Nagar Phase-II

For a 1,000 sq.ft plot at the current guideline value of Rs 126 per sq.ft, the total guideline value would be Rs 1,26,000. The stamp duty at 7% would amount to Rs 8,820, and the registration fee at 2% would be Rs 2,520, bringing the total fees to Rs 11,340. Please 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 Subiksham Nagar Phase-II?

The Subiksham Nagar Phase-II area is covered by the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Pusivakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This helps in standardizing the costs associated with property transactions, making it easier for buyers and sellers to understand their financial obligations.

Frequently asked questions

What is the current guideline value of Subiksham Nagar Phase-II?

The current guideline value of Subiksham Nagar Phase-II is Rs 126 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2012 to Rs 84 per sq.ft in 2017, then increased to Rs 126 per sq.ft in 2023, remaining the same in 2024.

What is the median guideline value for streets in Pusivakkam?

The median guideline value for the 22 streets in Pusivakkam under the Walajabad SRO is Rs 150 per sq.ft.

What are the stamp duty and registration fees for a property in Subiksham Nagar Phase-II?

The stamp duty is 7% and the registration fee is 2% of the guideline value, which totals Rs 11,340 for a 1,000 sq.ft plot at the current rate.

Which office handles registrations for Subiksham Nagar Phase-II?

The Walajabad Sub Registrar Office handles registrations for Subiksham Nagar Phase-II, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.