Guideline Value for Subramaniya Nagar

Subramaniya Nagar guideline value

The current guideline value of Subramaniya Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Kathirvedu village under the Ambattur SRO and is classified as Residential Class III Type - II.

How the guideline value of Subramaniya Nagar has changed

The guideline value for Subramaniya Nagar has seen several revisions over the years. Starting from Rs 57 per sq.ft in 2002, it increased to Rs 70 per sq.ft in 2003, marking a 23% rise. The value then saw a significant jump to Rs 300 per sq.ft in 2007, which was a 329% increase. In 2012, the guideline value was Rs 1,200 per sq.ft, reflecting a 300% increase from the previous revision. However, it decreased to Rs 804 per sq.ft in 2017, showing a decline of 33%. The value rose again to Rs 1,200 per sq.ft in 2023, and most recently, it has increased to Rs 1,300 per sq.ft in 2024, representing an 8% increase.

Overall, from 2002 to 2024, the guideline value has increased by 2181%. There are no figures available for the years outside of those listed in the register for this street.

Guideline values in Kathirvedu

In Kathirvedu, there are 78 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,500 per sq.ft. The guideline value for Subramaniya Nagar is below this median.

• Subash Nagar: Rs 2,300 per sq.ft (2024)
• Sri Sai Nagar: Rs 1,400 per sq.ft (2024)
• Sri Ranga Avenue (Madras City Co- Operarive Building Socity Nagar): Rs 2,200 per sq.ft (2024)
• Sri Padmavathy Nagar: Rs 2,700 per sq.ft (2024)
• Srinivasa Nagar Extn.: Rs 2,000 per sq.ft (2024)
• Srinivasa Nagar: Rs 2,000 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 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total costs together Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and 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 Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kathirvedu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during property transactions.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Subramaniya Nagar?

The current guideline value of Subramaniya Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 57 per sq.ft in 2002 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 2181% over the years.

What is the land classification for Subramaniya Nagar?

Subramaniya Nagar is classified as Residential Class III Type - II.

Where is the Ambattur Sub Registrar Office located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Subramaniya Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at 7% and the registration fee would be Rs 26,000 at 2%.