Guideline Value for Subramaniaya Nagar

Subramaniaya Nagar guideline value

The current guideline value of Subramaniaya Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Arambakkam village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Subramaniaya Nagar has changed

The guideline value of Subramaniaya Nagar has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 400 per sq.ft. This remained unchanged until the 2017 revision, where it dropped to Rs 268 per sq.ft, marking a decrease of 33%. However, the value increased significantly in the 2023 revision to Rs 400 per sq.ft, followed by the current 2024 revision, which also maintains the value at Rs 400 per sq.ft, reflecting no change from the previous year. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been no net change, as the value has returned to Rs 400 per sq.ft.

Guideline values in Arambakkam

In Arambakkam, there are 33 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 400 to Rs 800 per sq.ft. The median guideline value for these streets is Rs 600 per sq.ft, indicating that Subramaniaya Nagar's 2024 figure is below that median.

• SRI Subramaniyar Nagar ExTN: Rs 500 per sq.ft (2024)
• Sri Srinivasa Perumal Nagar Extn: Rs 400 per sq.ft (2024)
• Sri Srinivasa Perumal Nagar: Rs 600 per sq.ft (2024)
• Sri Sai Muruga Garden: Rs 600 per sq.ft (2024)
• Sri Sai Green Homes: Rs 800 per sq.ft (2024)
• Thilak Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Subramaniaya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty is charged at 7%, resulting in Rs 28,000, while the registration fee is 2%, amounting to Rs 8,000. Together, the total cost for stamp duty and registration fees would be Rs 36,000. It is important to 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 further calculations.

Which Sub Registrar Office covers Subramaniaya Nagar?

The Sub Registrar Office that covers Subramaniaya Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Arambakkam, as it determines the amount of stamp duty and registration fees payable. When registering a property, the guideline value serves as a benchmark to assess the transaction value, ensuring that the appropriate fees are collected based on the higher of the guideline value or the sale price.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Understanding these values can help in making informed decisions during property transactions in the area.

Frequently asked questions

What is the current guideline value of Subramaniaya Nagar?

The current guideline value of Subramaniaya Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then back to Rs 400 per sq.ft in 2023 and 2024, with an overall change of 0% from 2012 to 2024.

What is the land classification for Subramaniaya Nagar?

The land classification for Subramaniaya Nagar is Residential Class II Type - I.

Where can I find the Gooduvancheri Sub Registrar Office?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is stamp duty calculated in Subramaniaya Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the guideline value of Rs 400 per sq.ft, the total guideline value is Rs 4,00,000, leading to a stamp duty of Rs 28,000.