Guideline Value for SUBRAMANI STREET

Subramani Street guideline value

The current guideline value of Subramani Street in Perumalagaram village is Rs 3,190 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class V Type - I.

How the guideline value of Subramani Street has changed

Over the years, the guideline value of Subramani Street has seen several revisions. The 2012 revision set the value at Rs 2,900 per sq.ft, which then decreased to Rs 1,943 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,900 per sq.ft in the 2023 revision and then rose to Rs 3,190 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figure for the years 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, there was a notable decrease of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value.

Guideline values in Perumalagaram

In Perumalagaram, there are 74 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 825 to Rs 7,920 per sq.ft. The median value is Rs 3,190 per sq.ft, which is the same as the guideline value for Subramani Street.

• Susila Street: Rs 3,190 per sq.ft (2024)
• Srinivasan Street: Rs 3,190 per sq.ft (2024)
• Shyamala Street: Rs 3,190 per sq.ft (2024)
• Shri Shanmuga Avenue: Rs 2,420 per sq.ft (2024)
• Vadanoobal Main Road (Mayana Salai): Rs 2,970 per sq.ft (2024)
• Vadanoobal Pillaiar Koil Street: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Subramani Street

For a 1,000 sq.ft plot at the current rate of Rs 3,190 per sq.ft, the guideline value would be Rs 31,90,000. The stamp duty at 7% would amount to Rs 2,23,300, and the registration fee at 2% would be Rs 63,800, making the total Rs 2,87,100. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subramani Street?

The Sub Registrar Office that covers Subramani Street is the Chennai South Joint II 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 Perumalagaram

The guideline value is a crucial factor during property registration in Perumalagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per the government’s assessment.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs associated with property transactions. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Subramani Street?

The current guideline value of Subramani Street is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 2,900 per sq.ft in 2012 to Rs 1,943 per sq.ft in 2017, then increased to Rs 2,900 per sq.ft in 2023, and finally to Rs 3,190 per sq.ft in 2024.

What is the classification of Subramani Street?

Subramani Street is classified as Residential Class V Type - I under the Chennai South Joint II SRO.

Where can I find the Sub Registrar Office for Subramani Street?

The Sub Registrar Office for Subramani Street is the Chennai South Joint II 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 Subramani Street?

Stamp duty for properties in Subramani Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 3,190 per sq.ft would incur a total stamp duty and registration fee of Rs 2,87,100.