Guideline Value for Subramaniya Nagar

Subramaniya Nagar guideline value

The current guideline value of Subramaniya Nagar, located in Kilkattalai village under the Pallavaram SRO, is Rs 2,530 per sq.ft. The land classification for this area is Residential Class I Type - II.

How the guideline value of Subramaniya Nagar has changed

The guideline value for Subramaniya Nagar has undergone several revisions over the years. Starting from the 2003 revision, the value was Rs 144 per sq.ft. This increased significantly to Rs 300 per sq.ft in 2007, marking a rise of 108%. The value then saw a substantial jump to Rs 2,300 per sq.ft in 2012, reflecting a 667% increase. However, it dropped to Rs 1,541 per sq.ft in 2017, a decrease of 33%. The 2023 revision set the value at Rs 2,300 per sq.ft, and the most recent 2024 revision increased it to Rs 2,530 per sq.ft, which is a 10% rise from the previous year.

Overall, from the 2003 revision to the latest 2024 revision, the guideline value has increased by 1,657%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,530 per sq.ft, which is the same as the current value for Subramaniya Nagar.

• Sudukadu Street: Rs 2,530 per sq.ft (2024)
• Suguna Colony: Rs 2,200 per sq.ft (2024)
• S.R.V.S. Colony Extn: Rs 3,300 per sq.ft (2024)
• S.R.V.S. Colony: Rs 3,300 per sq.ft (2024)
• Thenmozhi Nagar: Rs 2,530 per sq.ft (2024)
• Thenmozhi Nagar 1 To 5 Streets: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Subramaniya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total charges to Rs 2,27,700. 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 detailed calculations.

Which Sub Registrar Office covers Subramaniya Nagar?

The Sub Registrar Office that covers Subramaniya Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Kilkattalai, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value, as it impacts the stamp duty and registration fees applicable during the transaction.

When purchasing property, the guideline value serves as a benchmark for assessing the property's worth. It ensures that the transaction is recorded accurately and helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Subramaniya Nagar?

The current guideline value of Subramaniya Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 144 per sq.ft in 2003 to Rs 2,530 per sq.ft in 2024, marking an overall increase of 1,657% over this period.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 25,30,000, with stamp duty at Rs 1,77,100 and registration fee at Rs 50,600, totaling Rs 2,27,700.

Which Sub Registrar Office covers Subramaniya Nagar?

The Pallavaram Sub Registrar Office covers Subramaniya Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property, impacting the stamp duty and registration fees during a transaction. It serves as a benchmark for both buyers and sellers in property dealings.