Guideline Value for Subramani Nagar ( Ward No.8 )

Subramani Nagar ( Ward No.8 ) guideline value

The current guideline value of Subramani Nagar ( Ward No.8 ) 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, classified as Residential Class II Type - I.

How the guideline value of Subramani Nagar ( Ward No.8 ) has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure increased to Rs 1,600 per sq.ft in the 2024 revision, marking a change of +7% over the 12-year period. The register has no figures for the years 2002, 2003, 2007, 2017, and 2023 for this street.

The guideline value has seen a steady increase from the 2012 revision to the 2024 revision. The current figure of Rs 1,600 per sq.ft aligns with the median value for the 1,946 streets in Madhavaram under the Madhavaram SRO, where the 2024 figures range from Rs 1,300 to Rs 7,500 per sq.ft.

Guideline values in Madhavaram

The guideline values in Madhavaram show a range of Rs 1,300 to Rs 7,500 per sq.ft, with the median being Rs 1,600 per sq.ft. Subramani Nagar ( Ward No.8 )'s guideline value matches this median.

• Subramani Nagar, Vinayagapuram (Ward-29): Rs 1,600 per sq.ft (2024)
• Subramani Nagar Rd ( Ward No.2 ): Rs 1,600 per sq.ft (2024)
• Subramani Siva St ( Ward No.23 ): Rs 1,600 per sq.ft (2024)
• Subramani Nagar Periachekadu (Ward-01): Rs 1,600 per sq.ft (2024)
• Subramani Street (Ward-01): Rs 1,600 per sq.ft (2024)
• Subramaniya Garden Extension-I: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Subramani Nagar ( Ward No.8 )

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 be 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subramani Nagar ( Ward No.8 )?

The Sub Registrar Office that covers Subramani Nagar ( Ward No.8 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial 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 applicable to the transaction.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Subramani Nagar ( Ward No.8 )?

The current guideline value for Subramani Nagar ( Ward No.8 ) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,500 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, representing a +7% change. The register has no figures for the years 2002, 2003, 2007, 2017, and 2023 for this street.

What is the land classification for Subramani Nagar ( Ward No.8 )?

Subramani Nagar ( Ward No.8 ) is classified as Residential Class II Type - I. This classification is important for determining the appropriate uses and regulations for properties in the area.

What are the stamp duty and registration fees for property in Subramani Nagar?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Subramani Nagar ( Ward No.8 )?

The Madhavaram Sub Registrar Office covers Subramani Nagar ( Ward No.8 ) and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information about your SRO online.