Guideline Value for Subramaniyan Nagar Extn

Subramaniyan Nagar Extn guideline value

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

How the guideline value of Subramaniyan Nagar Extn has changed

The guideline value for Subramaniyan Nagar Extn has undergone several revisions over the years. In 2017, the guideline value was set at Rs 1,340 per sq.ft. With the latest revision in 2024, the value increased to Rs 2,200 per sq.ft, marking a significant rise of 64% from the 2017 figure.

There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street. The only revisions recorded are from 2017 and 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Subramaniyan Nagar Extn's 2024 figure below that median.

• Subramaniyan Nagar: Rs 2,200 per sq.ft (2024)
• Subramaniyam Nagar: 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 Subramaniyan Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Subramaniyan Nagar Extn?

The Sub Registrar Office covering Subramaniyan Nagar Extn 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 when registering property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased, ensuring that the transaction is recorded accurately in the official registers.

When buyers and sellers engage in a property transaction, the guideline value helps in calculating the stamp duty and registration fees. This ensures that all legal requirements are met during the registration process, safeguarding the interests of both parties involved.

Frequently asked questions

What is the current guideline value of Subramaniyan Nagar Extn?

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

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, which is a change of 64%.

What is the land classification for Subramaniyan Nagar Extn?

Subramaniyan Nagar Extn is classified as Residential Class II Type - I.

Where can I find the registration office for this area?

The registration office for Subramaniyan Nagar Extn is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the median guideline value for streets in Madipakkam-1?

The median guideline value for streets in Madipakkam-1 is Rs 2,750 per sq.ft, with Subramaniyan Nagar Extn's value being below that median at Rs 2,200 per sq.ft.