Guideline Value for Subramaniya Garden Nagar Annex

Subramaniya Garden Nagar Annex guideline value

The current guideline value for Subramaniya Garden Nagar Annex is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Subramaniya Garden Nagar Annex has changed

The guideline value for Subramaniya Garden Nagar Annex has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. However, the most recent 2024 revision has significantly increased the guideline value to Rs 2,200 per sq.ft, marking a 64% increase from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 47%.

It is important to note that the register has no figures for the years 2023, 2007, 2003, and 2002 for this street. The changes between the revisions highlight the fluctuations in property valuation, with the 2012 to 2017 period showing a decrease of 11% before the substantial increase in the following revision.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. The median guideline value for the village is Rs 1,600 per sq.ft, placing Subramaniya Garden Nagar Annex above this median.

• Subramaniya Garden Nagar: Rs 2,200 per sq.ft (2024)
• Subramaniya Garden Nagar Extension: Rs 2,200 per sq.ft (2024)
• Subramaniya Garden Extension-I: Rs 2,200 per sq.ft (2024)
• Subramani Street (Ward-01): Rs 1,600 per sq.ft (2024)
• Subramani Siva St (Ward No.23): Rs 1,600 per sq.ft (2024)
• Subramani Nagar (Ward No.8): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Subramaniya Garden Nagar Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subramaniya Garden Nagar Annex?

The Sub Registrar Office covering Subramaniya Garden Nagar Annex 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 that need to be paid during the transaction.

Frequently asked questions

What is the current guideline value for Subramaniya Garden Nagar Annex?

The current guideline value for Subramaniya Garden Nagar Annex is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then significantly increased to Rs 2,200 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024 and an overall increase of 47% from 2012 to 2024.

What are the other streets in Madhavaram with similar guideline values?

Other streets in Madhavaram with a guideline value of Rs 2,200 per sq.ft include Subramaniya Garden Nagar, Subramaniya Garden Nagar Extension, and Subramaniya Garden Extension-I. Other streets like Subramani Street, Subramani Siva St, and Subramani Nagar have a lower guideline value of Rs 1,600 per sq.ft.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Subramaniya Garden Nagar Annex is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information about your SRO through the provided link.