Guideline Value for Subramani Nagar

Subramani Nagar guideline value

The current guideline value of Subramani Nagar, located in Chikkarayapuram village under the Kunrathur SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - I.

How the guideline value of Subramani Nagar has changed

The guideline value for Subramani Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 63 per sq.ft, which increased to Rs 300 per sq.ft in 2007, marking a substantial rise of 376%. The value then rose to Rs 1,400 per sq.ft in 2012, reflecting an increase of 367%. However, from 2012 to 2017, the value decreased by 33% to Rs 938 per sq.ft. The value then saw a remarkable increase of 92% to reach Rs 1,800 per sq.ft in 2023, and finally, it increased by 10% to the current value of Rs 1,980 per sq.ft in 2024.

It is important to note that there is no figure available for the year 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 3043%.

Guideline values in Chikkarayapuram

In Chikkarayapuram, there are 61 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,430 to Rs 2,800 per sq.ft. The median guideline value for these streets is Rs 1,980 per sq.ft, which matches the current value for Subramani Nagar.

• Subbiya Nagar: Rs 1,980 per sq.ft (2024)
• Sueelambal Nagar: Rs 1,870 per sq.ft (2024)
• Sunder Avenue: Rs 1,980 per sq.ft (2024)
• Sunder Avenue Annexe: Rs 1,760 per sq.ft (2024)
• Sri Venkateswara Nagar I, II, III: Rs 1,980 per sq.ft (2024)
• Sushilammal Nagar: Rs 1,980 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 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that 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 details.

Which Sub Registrar Office covers Subramani Nagar?

The Sub Registrar Office that covers Subramani Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Chikkarayapuram. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation and ensuring that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Subramani Nagar?

The current guideline value of Subramani Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 63 per sq.ft in 2003 to Rs 1,980 per sq.ft in 2024, marking a total increase of 3043% over this period.

What are the other streets in Chikkarayapuram with their guideline values?

Other streets in Chikkarayapuram include Subbiya Nagar, Sunder Avenue, and Sri Venkateswara Nagar, with values ranging from Rs 1,760 to Rs 1,980 per sq.ft in 2024.

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

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600, and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office should I approach for property registration in Subramani Nagar?

The Kunrathur Sub Registrar Office is the designated office for property registration in Subramani Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.