Guideline Value for Subramaniya Garden Nagar Extension

Subramaniya Garden Nagar Extension guideline value

The current guideline value of Subramaniya Garden Nagar Extension 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 Extension has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure then decreased to Rs 1,340 per sq.ft in the 2017 revision, showing a decline of 11%. However, from 2017 to 2024, the value increased significantly to Rs 2,200 per sq.ft, marking a rise of 64%. Overall, from 2012 to 2024, the guideline value has increased by 47%.

The register has no figures for the years 2002, 2003, 2007, and 2023 for this street, indicating that the values were not updated during those revisions.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Subramaniya Garden Nagar Extension is above this median.

• Subramaniya Garden Nagar Annex: Rs 2,200 per sq.ft (2024)
• Subramaniya Garden Nagar: 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 Extension

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.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subramaniya Garden Nagar Extension?

The Subramaniya Garden Nagar Extension falls under 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 of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When buying or selling property, the guideline value is used to ensure that the transaction is recorded at a fair rate, which helps in maintaining transparency in property dealings. This value is essential for both buyers and sellers to understand their financial obligations during property transactions.

Frequently asked questions

What is the current guideline value of Subramaniya Garden Nagar Extension?

The current guideline value of Subramaniya Garden Nagar Extension 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 increased to Rs 2,200 per sq.ft in 2024. Overall, from 2012 to 2024, the increase is 47%.

What are the guideline values of other streets in Madhavaram?

Other streets in Madhavaram have varying guideline values, with some streets like Subramaniya Garden Nagar Annex, Subramaniya Garden Nagar, and Subramaniya Garden Extension-I also set at Rs 2,200 per sq.ft in 2024.

What is the stamp duty for property in Subramaniya Garden Nagar Extension?

The stamp duty for property in Subramaniya Garden Nagar Extension is 7% of the guideline value. For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.

Where can I find the Sub Registrar Office for Madhavaram?

The Sub Registrar Office for Madhavaram is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information by visiting the relevant link.