Guideline Value for Subramaniya Nagar

Subramaniya Nagar guideline value

The current guideline value of Subramaniya Nagar is Rs 600 per sq.ft, as per the 2023 revision. This area is located in Mambakkam village and falls under the Gooduvancheri SRO, classified as Residential Class I Type - I.

How the guideline value of Subramaniya Nagar has changed

The guideline value for Subramaniya Nagar has seen several revisions over the years. In the 2007 revision, the guideline value was Rs 160 per sq.ft. This increased significantly to Rs 600 per sq.ft in the 2012 revision, marking a substantial rise of 275%. However, from 2012 to 2017, the value decreased to Rs 402 per sq.ft, a drop of 33%. The most recent revision in 2023 saw the guideline value rise again to Rs 600 per sq.ft, reflecting an increase of 49% from the previous revision.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 275%. It is important to note that there are no figures available for the years 2002, 2003, and 2024 in the register for this street.

Guideline values in Mambakkam

Subramaniya Nagar is part of Mambakkam, which currently does not have any specific village figures provided. Below are the other streets in Mambakkam:

Stamp duty and registration fee for property in Subramaniya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total cost for these fees to Rs 54,000. It is important to note that the 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 Nagar?

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

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mambakkam. It serves as a benchmark for determining the value of the property and is used to calculate the applicable stamp duty and registration fees.

When registering a property, buyers must ensure that the sale price is either equal to or higher than the guideline value. If the sale price is lower than the guideline value, the duty will be calculated based on the guideline value instead.

Frequently asked questions

What is the current guideline value of Subramaniya Nagar?

The current guideline value of Subramaniya Nagar is Rs 600 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 160 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, then decreased to Rs 402 per sq.ft in 2017, and has returned to Rs 600 per sq.ft in 2023.

What is the registration fee for property in Subramaniya Nagar?

The registration fee is calculated based on the guideline value. For a property valued at Rs 6,00,000, the registration fee would be Rs 12,000 at a rate of 2%.

Which office registers properties in Subramaniya Nagar?

The Gooduvancheri Sub Registrar Office is responsible for registering properties in Subramaniya Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone.

Are there other streets in Mambakkam with guideline values?

No specific guideline values for other streets in Mambakkam have been provided in the available data.