Guideline Value for Subramani Nagar

Subramani Nagar guideline value

The current guideline value of Subramani Nagar 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 has changed

The guideline value for Subramani Nagar has undergone several revisions over the years. The earliest revision listed is from 2012, where the guideline value was Rs 1,500 per sq.ft. The latest revision in 2024 has increased this value to Rs 1,600 per sq.ft, marking a change of +7% from the 2012 figure.

There are no figures available for the years 2023, 2017, 2007, 2003, and 2002 for this street. The 2024 guideline value of Rs 1,600 per sq.ft aligns with the median value of Rs 1,600 per sq.ft for the 1946 streets in Madhavaram under the Madhavaram SRO.

Guideline values in Madhavaram

In Madhavaram, the guideline values range from Rs 1,300 to Rs 7,500 per sq.ft, with a median of Rs 1,600 per sq.ft. Subramani Nagar's 2024 guideline value is equal to this median.

• Subramani Garden (Ward-03): Rs 1,600 per sq.ft (2024)
• Subramani Garden (Ward-01): Rs 1,600 per sq.ft (2024)
• Subramani Garden 1st st (Ward No.3): Rs 1,600 per sq.ft (2024)
• Subramani Nagar Periachekadu (Ward-01): Rs 1,600 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Subramani Nagar

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, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. 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?

The Sub Registrar Office that covers Subramani Nagar 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 an important factor during property registration in Madhavaram. It helps determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When you register a property, the guideline value is used to calculate the applicable taxes and fees. This ensures that the transaction is documented accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Subramani Nagar?

The current guideline value of Subramani Nagar 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. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the land classification of Subramani Nagar?

Subramani Nagar is classified as Residential Class II Type - I. This classification impacts the guideline value and property regulations in the area.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 1,44,000.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles property registrations for Subramani Nagar and surrounding areas.