Guideline Value for Subramaniyan Nagar

Subramaniyan Nagar guideline value

The current guideline value of Subramaniyan Nagar 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 is classified as Residential Class II Type - I.

How the guideline value of Subramaniyan Nagar has changed

The guideline value for Subramaniyan Nagar has seen significant changes over the years. The 2017 revision recorded a guideline value of Rs 1,340 per sq.ft. With the latest revision in 2024, the value increased to Rs 2,200 per sq.ft, marking a change of +64% from the 2017 figure.

There are no figures available for the revisions in 2023, 2012, 2007, 2003, and 2002 for this street. The most recent revision reflects a notable increase in the guideline value, indicating a shift in the valuation of properties in this area.

Guideline values in Madipakkam-1

In Madipakkam-1, a total of 1823 streets are registered under the Velacheri SRO, with guideline values 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, placing the 2024 figure for Subramaniyan Nagar below that median.

• Subramaniyan Nagar Extn: 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

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 to 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 more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subramaniyan Nagar?

The Sub Registrar Office that covers Subramaniyan 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 details.

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 value at which a property can be registered, impacting the stamp duty and registration fees payable during the transaction.

Frequently asked questions

What is the current guideline value of Subramaniyan Nagar?

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

How much has the guideline value changed recently?

From the 2017 revision of Rs 1,340 per sq.ft to the current 2024 figure of Rs 2,200 per sq.ft, the guideline value has increased by +64%.

What is the land classification for Subramaniyan Nagar?

Subramaniyan Nagar is classified as Residential Class II Type - I, indicating its designation for residential purposes.

Where can I find the registration office for Subramaniyan Nagar?

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

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the guideline value of Rs 2,200 per sq.ft incurs a total stamp duty of Rs 1,54,000.