Guideline Value for Subramani Garden (Ward-03)

Subramani Garden (Ward-03) guideline value

The current guideline value of Subramani Garden (Ward-03) is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Subramani Garden (Ward-03) has changed

The guideline value for Subramani Garden (Ward-03) has seen several revisions over the years. The oldest revision available is from 2012, where the guideline value was Rs 1,500 per sq.ft. The most recent revision in 2024 has increased this figure to Rs 1,600 per sq.ft, marking a change of +7% from the 2012 revision.

There are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street. Thus, the only available figures are from 2012 and the current 2024 revision.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which is equal to the current figure for Subramani Garden (Ward-03).

• Subramani Garden (Ward-01): Rs 1,600 per sq.ft (2024)
• Subramani Garden 1st st (Ward No.3): Rs 1,600 per sq.ft (2024)
• Subramani Nagar: Rs 1,600 per sq.ft (2024)
• Subramaniam Nagar (Ward-08): Rs 1,600 per sq.ft (2024)
• Subramani Nagar Periachekadu (Ward-01): Rs 1,600 per sq.ft (2024)
• Subramani Nagar Rd (Ward No.2): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Subramani Garden (Ward-03)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost for these fees to Rs 1,44,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subramani Garden (Ward-03)?

The Sub Registrar Office that covers Subramani Garden (Ward-03) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is an important factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When you register a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Subramani Garden (Ward-03)?

The current guideline value of Subramani Garden (Ward-03) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Subramani Garden (Ward-03) was Rs 1,500 per sq.ft in 2012 and increased to Rs 1,600 per sq.ft in 2024, marking a +7% change.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 16,00,000, leading to a stamp duty of Rs 1,12,000 and a registration fee of Rs 32,000, totaling Rs 1,44,000.

Which office handles the registration for Subramani Garden (Ward-03)?

The Madhavaram Sub Registrar Office handles the registration for Subramani Garden (Ward-03), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Subramani Garden (Ward-03)?

The land classification for Subramani Garden (Ward-03) is Residential Class II Type - I.