Guideline Value for Thiru.Subramani Nagar

Thiru.Subramani Nagar guideline value

The current guideline value of Thiru.Subramani Nagar is Rs 830 per sq.ft, effective from 1 July 2024. This area is located in Padappai village, under the Padappai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Thiru.Subramani Nagar has changed

In the 2012 revision, the guideline value was Rs 750 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 502 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 750 per sq.ft in the 2023 revision, and further rose to Rs 830 per sq.ft in the 2024 revision, representing an increase of 11% from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 11%, reflecting the changes in the market conditions over the years.

Guideline values in Padappai

Padappai village has a total of 146 streets under the Padappai SRO, with the 2024 guideline values ranging from Rs 440 to Rs 4,000 per sq.ft. The median guideline value is Rs 830 per sq.ft, which is equal to the 2024 figure for Thiru.Subramani Nagar.

• Thiruvalluvar Street: Rs 830 per sq.ft (2024)
• Thiru.Vi.Ka.Nagar: Rs 830 per sq.ft (2024)
• Thoppu Street: Rs 1,320 per sq.ft (2024)
• Three Star Nagar: Rs 3,300 per sq.ft (2024)
• Thavan Nagar: Rs 830 per sq.ft (2024)
• Thanthoniamman Koil Street: Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru.Subramani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 830 per sq.ft, the total guideline value would be Rs 8,30,000. The stamp duty at 7% would amount to Rs 58,100, and the registration fee at 2% would be Rs 16,600, resulting in a total of Rs 74,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Thiru.Subramani Nagar?

The Sub Registrar Office that covers Thiru.Subramani Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Padappai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. 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 Thiru.Subramani Nagar?

The current guideline value of Thiru.Subramani Nagar is Rs 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent increase from Rs 750 per sq.ft in 2023 to Rs 830 per sq.ft in 2024, a rise of 11%. The value was Rs 502 per sq.ft in 2017 and Rs 750 per sq.ft in 2012.

What is the classification of Thiru.Subramani Nagar?

Thiru.Subramani Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the registration office for Thiru.Subramani Nagar?

The registration office for Thiru.Subramani Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Thiru.Subramani Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 8,30,000, the stamp duty would be Rs 58,100 at a rate of 7%.