Guideline Value for Subramani Nagar Periachekadu (Ward-01)

Subramani Nagar Periachekadu (Ward-01) guideline value

The current guideline value of Subramani Nagar Periachekadu (Ward-01) is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Subramani Nagar Periachekadu (Ward-01) has changed

The guideline value for Subramani Nagar Periachekadu has seen several revisions over the years. The earliest recorded revision in 2012 set the value at Rs 1,500 per sq.ft. This was followed by the 2024 revision, which increased the value to Rs 1,600 per sq.ft, marking a change of +7% from the 2012 figure. There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023 for this street.

In summary, the guideline value has increased from Rs 1,500 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024. This change reflects the adjustments made in the guideline values across the years, with the current figure aligning with the median guideline value for Madhavaram streets.

Guideline values in Madhavaram

The guideline values in Madhavaram reflect a range of Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. Subramani Nagar Periachekadu (Ward-01) shares its 2024 guideline value with this median. Below are the guideline values for other streets in Madhavaram:

• Subramani Nagar Rd (Ward No.2): Rs 1,600 per sq.ft (2024)
• Subramani Nagar, Vinayagapuram (Ward-29): Rs 1,600 per sq.ft (2024)
• Subramani Nagar (Ward No.8): Rs 1,600 per sq.ft (2024)
• Subramani Siva St (Ward No.23): Rs 1,600 per sq.ft (2024)
• Subramani Street (Ward-01): Rs 1,600 per sq.ft (2024)
• Subramani Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Subramani Nagar Periachekadu (Ward-01)

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, while the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that 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 Subramani Nagar Periachekadu (Ward-01)?

The Sub Registrar Office that covers Subramani Nagar Periachekadu (Ward-01) 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 when registering property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects the prevailing market conditions.

When a buyer or seller engages in a property transaction, the guideline value helps in calculating the applicable stamp duty and registration fees. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Subramani Nagar Periachekadu (Ward-01)?

The current guideline value of Subramani Nagar Periachekadu (Ward-01) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,500 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, reflecting a +7% increase. There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023 for this street.

What is the land classification of Subramani Nagar Periachekadu?

Subramani Nagar Periachekadu is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles property registrations for the area.

How is the stamp duty calculated for properties in Subramani Nagar Periachekadu?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,00,000 would incur a stamp duty of Rs 1,12,000.