Guideline Value for Subramani Nagar Rd ( Ward No.2 )

Subramani Nagar Rd ( Ward No.2 ) guideline value

The current guideline value of Subramani Nagar Rd ( Ward No.2 ) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Subramani Nagar Rd ( Ward No.2 ) has changed

Looking at the revisions, the guideline value for Subramani Nagar Rd ( Ward No.2 ) was Rs 1,500 per sq.ft in 2012, which decreased to Rs 1,005 per sq.ft in 2017. This marks a decrease of 33% from 2012 to 2017. The current value of Rs 1,600 per sq.ft from the 2024 revision reflects a significant increase of 59% from the 2017 figure.

There are no figures available for the revisions in 2023, 2007, 2003, and 2002 for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Madhavaram

In Madhavaram, there are a total of 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, with the median being Rs 1,600 per sq.ft. The guideline value of Subramani Nagar Rd ( Ward No.2 ) aligns with this median.

• Subramani Nagar Periachekadu (Ward-01): 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 Rd ( Ward No.2 )

For a 1,000 sq.ft plot at the current rate, the guideline value is 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 to Rs 1,44,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subramani Nagar Rd ( Ward No.2 )?

The Sub Registrar Office that covers Subramani Nagar Rd ( Ward No.2 ) 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 guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Subramani Nagar Rd ( Ward No.2 )?

The current guideline value of Subramani Nagar Rd ( Ward No.2 ) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 1,600 per sq.ft in 2024, up from Rs 1,005 per sq.ft in 2017. The value decreased from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017.

What are the stamp duty rates for property in Subramani Nagar Rd ( Ward No.2 )?

The stamp duty rate for property in Subramani Nagar Rd ( Ward No.2 ) is 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where is the Sub Registrar Office located for Subramani Nagar Rd ( Ward No.2 )?

The Sub Registrar Office for Subramani Nagar Rd ( Ward No.2 ) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification of Subramani Nagar Rd ( Ward No.2 )?

Subramani Nagar Rd ( Ward No.2 ) is classified as Residential Class II Type - I, indicating its suitability for residential development.