Guideline Value for Subramaniya Nagar

Subramaniya Nagar guideline value

The current guideline value for Subramaniya Nagar, located in Zaminpallavaram village, under the Pallavaram SRO, is Rs 2,160 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Subramaniya Nagar has changed

Over the years, the guideline value for Subramaniya Nagar has seen significant changes. Starting from the 2003 revision, the value was Rs 122 per sq.ft. This figure increased to Rs 600 per sq.ft in 2007, marking a substantial rise of 392%. The value then jumped to Rs 2,000 per sq.ft in 2012, reflecting an increase of 233%. However, between 2012 and 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The 2023 revision set the value at Rs 2,000 per sq.ft, which then increased to Rs 2,160 per sq.ft in 2024, an 8% rise.

Overall, from 2003 to 2024, the guideline value has increased by 1,670%. The register does not have a figure for the year 2002 for this street.

Guideline values in Zaminpallavaram

Zaminpallavaram has 638 streets under the Pallavaram SRO, with guideline values for 2024 ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Subramaniya Nagar's 2024 figure below that median.

• Subramaniyar Koil 1st Street: Rs 3,300 per sq.ft (2024)
• Subramaniyar Koil 2nd Street: Rs 3,300 per sq.ft (2024)
• Subramaniyar Koil North Street: Rs 3,300 per sq.ft (2024)
• Subhash Nagar: Rs 3,850 per sq.ft (2024)
• Subham Nagar Part I 10 V: Rs 3,850 per sq.ft (2024)
• Subham Nagar: Rs 3,850 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 2,160 per sq.ft, the total guideline value amounts to Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, while the registration fee at 2% would be Rs 43,200, bringing the total fees to Rs 1,94,400. 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 Subramaniya Nagar area falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. Buyers and sellers must be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Subramaniya Nagar?

The current guideline value for Subramaniya Nagar is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 122 per sq.ft in 2003 to Rs 2,160 per sq.ft in 2024, reflecting an overall increase of 1,670% over this period.

What is the median guideline value in Zaminpallavaram?

The median guideline value for streets in Zaminpallavaram is Rs 3,300 per sq.ft, which is higher than the current value for Subramaniya Nagar.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,94,400.

Which office handles registrations for Subramaniya Nagar?

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