Guideline Value for Subramani Nagar

Subramani Nagar guideline value

The current guideline value of Subramani Nagar, located in Puthagaram village under the Ambattur SRO, is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Subramani Nagar has changed

Over the years, the guideline value of Subramani Nagar has seen several revisions. The 2012 revision set the value at Rs 1,800 per sq.ft, which then decreased to Rs 1,206 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,800 per sq.ft in 2023, and currently stands at Rs 1,900 per sq.ft as of the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, followed by a 6% increase from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has seen a net increase of 6%.

Guideline values in Puthagaram

Puthagaram village has a total of 140 streets under the Ambattur SRO, with guideline values ranging from Rs 1,200 to Rs 3,800 per sq.ft. The median guideline value for these streets is Rs 1,900 per sq.ft, which matches the current value of Subramani Nagar.

• Subramani Nagar Anex: Rs 1,900 per sq.ft (2024)
• Subramani Nagar Extn: Rs 1,900 per sq.ft (2024)
• Subash Nagar Extention: Rs 2,200 per sq.ft (2024)
• Subash Nagar Extension Survey No.67/11A1E,67/11B: Rs 3,000 per sq.ft (2024)
• Subash Nagar: Rs 2,200 per sq.ft (2024)
• Sri Venkateswara Nagar Extn: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Subramani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty, charged at 7%, would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, making the total cost for these fees Rs 1,71,000. Note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Subramani Nagar?

The Sub Registrar Office that covers Subramani Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Puthagaram. It serves as a reference point for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must ensure that the sale price is either equal to or higher than the guideline value to comply with legal requirements.

When registering a property, the guideline value is used to calculate the necessary fees, which are mandatory for the legal transfer of ownership. It is essential for both parties involved in the transaction to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Subramani Nagar?

The current guideline value of Subramani Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification of Subramani Nagar?

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

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 19,00,000, the total fees would be Rs 1,71,000.

Which office handles the registration for Subramani Nagar?

The Ambattur Sub Registrar Office handles the registration for Subramani Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.