Guideline Value for SUBRAMANI NAGAR 2ND STREET

Subramani Nagar 2nd Street guideline value

The current guideline value of Subramani Nagar 2nd Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Iyyappanthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - III.

How the guideline value of Subramani Nagar 2nd Street has changed

The guideline value for Subramani Nagar 2nd Street has seen several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2012, marking a rise of 233%. However, by 2017, the value decreased to Rs 670 per sq.ft, reflecting a drop of 33%. The value then rose to Rs 1,000 per sq.ft in 2023, before reaching the current rate of Rs 1,100 per sq.ft in 2024, which is an increase of 10% from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Iyyappanthangal

In Iyyappanthangal, a total of 134 streets are registered under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, indicating that the 2024 guideline value for Subramani Nagar 2nd Street is below this median.

• Subramani Nagar 3rd Street: Rs 1,100 per sq.ft (2024)
• Subramani Nagar 4th Street: Rs 1,100 per sq.ft (2024)
• Subramani Nagar 5th Street: Rs 1,100 per sq.ft (2024)
• Subramani Nagar: Rs 1,100 per sq.ft (2024)
• Subramani Nagar Ist Street: Rs 1,100 per sq.ft (2024)
• Subbiah Nagar Ist Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Subramani Nagar 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty, charged at 7%, would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, leading to a total of Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Subramani Nagar 2nd Street?

The Sub Registrar Office that covers Subramani Nagar 2nd Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Iyyappanthangal. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Subramani Nagar 2nd Street?

The current guideline value of Subramani Nagar 2nd Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 267% over this period.

What is the land classification for Subramani Nagar 2nd Street?

Subramani Nagar 2nd Street is classified as Residential Class IV Type - III.

Where can I find the registration office for this area?

The registration office covering Subramani Nagar 2nd Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.