Guideline Value for Subramaniya Garden Nagar

Subramaniya Garden Nagar guideline value

The current guideline value of Subramaniya Garden Nagar 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 has changed

Over the years, the guideline value of Subramaniya Garden Nagar has undergone several revisions. The earliest recorded revision was in 2012, where the guideline value was Rs 1,500 per sq.ft. This figure changed to Rs 1,340 per sq.ft in 2017, marking a decrease of 11%. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, which is a rise of 49%. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 47%.

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, placing Subramaniya Garden Nagar's 2024 figure above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, these fees total Rs 1,98,000. It is essential to note that the 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?

The Sub Registrar Office that covers Subramaniya Garden 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 plays a crucial role during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value of a property for the purpose of calculating stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency and accountability in real estate transactions within the region.

Frequently asked questions

What is the current guideline value of Subramaniya Garden Nagar?

The current guideline value of Subramaniya Garden Nagar 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 2,200 per sq.ft in 2024, marking an overall increase of 47% over the years.

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

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.

Which office handles registrations for Subramaniya Garden Nagar?

The Madhavaram Sub Registrar Office handles registrations for Subramaniya Garden Nagar, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft, with Subramaniya Garden Nagar's current value being above this median.