Guideline Value for SUBRAMANI NAGAR 5TH STREET

Subramani Nagar 5th Street guideline value

The current guideline value of Subramani Nagar 5th Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Jelandianpettai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Subramani Nagar 5th Street has changed

The guideline value for Subramani Nagar 5th Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no recorded figures for Subramani Nagar 5th Street in the revisions for the years 2002, 2003, and 2007. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Subramani Nagar 5th Street's 2024 figure above this median.

• Subramani Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Subramani Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Subramani Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Subramani Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Subramani Nagar: Rs 2,750 per sq.ft (2024)
• Sundaresan Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Subramani Nagar 5th Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subramani Nagar 5th Street?

The Sub Registrar Office that covers Subramani Nagar 5th 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 Jelandianpettai

The guideline value is a crucial factor in the registration process when buying or selling property in Jelandianpettai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are conducted transparently and fairly.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the stamp duty and registration fees based on the property's size and value. This ensures that both parties are aware of the costs involved in the transaction and that the government receives its due revenue from property transactions.

Frequently asked questions

What is the current guideline value of Subramani Nagar 5th Street?

The current guideline value of Subramani Nagar 5th Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Subramani Nagar 5th Street?

The land classification for Subramani Nagar 5th Street is Residential Class I Type - I.

Where can I find the registration office for Subramani Nagar 5th Street?

The registration office for Subramani Nagar 5th 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 the stamp duty calculated for properties in Jelandianpettai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty at 7% would be Rs 1,92,500.