Guideline Value for Subramaniyam Nagar

Subramaniyam Nagar guideline value

The current guideline value of Subramaniyam Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This locality is part of Madipakkam-1 village under the Velacheri SRO and is classified as Residential Class II Type - I.

How the guideline value of Subramaniyam Nagar has changed

The guideline value for Subramaniyam Nagar has undergone several revisions. The earliest recorded revision was in 2002, but the register has no figure for this street for the years 2003, 2007, 2012, and 2023. In the 2017 revision, the guideline value was set at Rs 1,340 per sq.ft.

With the latest revision in 2024, the guideline value increased to Rs 2,200 per sq.ft, marking a significant change of +64% from the 2017 figure. This increase reflects the adjustments made over the years to align with the evolving real estate landscape.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, which means that Subramaniyam Nagar's current guideline value is below this median.

• Subramaniyan Nagar: Rs 2,200 per sq.ft (2024)
• Subramaniyan Nagar Extn: Rs 2,200 per sq.ft (2024)
• Sundara Rajan Main Road: Rs 2,750 per sq.ft (2024)
• SRVS Ganga Kaveri Street: Rs 2,750 per sq.ft (2024)
• SRVS Colony/Pari Colony: Rs 2,200 per sq.ft (2024)
• SRVS Colony Ext: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Subramaniyam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, resulting in a total of Rs 1,98,000. It is important 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 Subramaniyam Nagar?

The Sub Registrar Office that covers Subramaniyam Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in the registration process when buying or selling property in Madipakkam-1. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the stamp duty. This ensures that the fees reflect the actual value of the property being transferred.

Frequently asked questions

What is the current guideline value of Subramaniyam Nagar?

The current guideline value of Subramaniyam Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, representing an increase of +64%.

What is the land classification of Subramaniyam Nagar?

Subramaniyam Nagar is classified as Residential Class II Type - I.

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

The Velacheri Sub Registrar Office handles registrations for Subramaniyam Nagar, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.