Guideline Value for Prof. Subramaniam Street

Prof. Subramaniam Street guideline value

The current guideline value for Prof. Subramaniam Street is Rs 8,300 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and is classified as Residential Class I Type - III.

How the guideline value of Prof. Subramaniam Street has changed

The guideline value for Prof. Subramaniam Street has seen several revisions over the years. In 2002, the guideline value was Rs 1,055 per sq.ft, which increased to Rs 1,418 per sq.ft in 2003. The value then rose significantly to Rs 4,000 per sq.ft in 2007, followed by a further increase to Rs 7,600 per sq.ft in 2012. However, it dropped to Rs 5,092 per sq.ft in 2017, before climbing to Rs 7,600 per sq.ft again in 2023. The latest revision in 2024 set the guideline value at Rs 8,300 per sq.ft.

Between the revisions, notable changes occurred. From 2017 to 2023, the value increased by 49%. The jump from 2012 to 2017 was a decrease of 33%. The increase from 2007 to 2012 was 90%, while the rise from 2003 to 2007 was a remarkable 182%. The value saw a 34% increase from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 687%.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO carrying a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft, with a median value of Rs 7,100 per sq.ft. Prof. Subramaniam Street's 2024 figure of Rs 8,300 per sq.ft is above this median.

• Pudupet New street: Rs 4,900 per sq.ft (2024)
• Pullapuram 10th lane: Rs 3,400 per sq.ft (2024)
• Pullapuram 11thlane: Rs 3,400 per sq.ft (2024)
• Pullapuram 12th lane: Rs 3,400 per sq.ft (2024)
• Pullapuram 13thlane: Rs 3,400 per sq.ft (2024)
• Pullapuram 14th lane: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Prof. Subramaniam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,300 per sq.ft, the total guideline value amounts to Rs 83,00,000. The stamp duty at 7% would be Rs 5,81,000, and the registration fee at 2% would be Rs 1,66,000, making the total charges Rs 7,47,000. Note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Prof. Subramaniam Street?

The Sub Registrar Office that covers Prof. Subramaniam Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

When buying or selling property in Egmore, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is the minimum value set by the government for property transactions, ensuring that the property is registered at a fair value.

During the registration process, buyers must pay stamp duty based on the guideline value or the sale price, whichever is higher. This helps maintain transparency and prevents undervaluation of properties in the real estate market.

Frequently asked questions

What is the current guideline value of Prof. Subramaniam Street?

The current guideline value of Prof. Subramaniam Street is Rs 8,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,055 per sq.ft in 2002 to Rs 8,300 per sq.ft in 2024, reflecting an overall increase of 687%.

What is the land classification for Prof. Subramaniam Street?

Prof. Subramaniam Street is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 83,00,000, the stamp duty would be Rs 5,81,000 and the registration fee would be Rs 1,66,000, totaling Rs 7,47,000.

Where is the Sub Registrar Office for Prof. Subramaniam Street located?

The Sub Registrar Office is located at 1103, Poonamallee High Road, Chennai-600 003, under the Periamet SRO.