Guideline Value for SUBRAMANIA COLONY

Subramania Colony guideline value

The current guideline value of Subramania Colony, located in Thiruvanmiyur village, is Rs 11,000 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Special Type - II.

How the guideline value of Subramania Colony has changed

The guideline value for Subramania Colony has seen significant changes over the years. In 2002, the value was Rs 2,048 per sq.ft, which increased to Rs 2,266 per sq.ft in 2003, marking an 11% rise. The value continued to grow, reaching Rs 3,000 per sq.ft in 2007, a 32% increase from the previous year. By 2012, the guideline value was Rs 10,000 per sq.ft, reflecting a substantial 233% increase from 2007. However, it then decreased by 33% to Rs 6,700 per sq.ft in 2017.

From 2017 to 2023, the value rose sharply by 49% to Rs 10,000 per sq.ft. The latest revision in 2024 has set the guideline value at Rs 11,000 per sq.ft, representing a 10% increase from the previous year. The register has no figures for the years not listed for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value is Rs 9,900 per sq.ft, placing Subramania Colony's 2024 figure above this median.

• Subramaniam Avenue: Rs 11,000 per sq.ft (2024)
• Subbu Street: Rs 3,520 per sq.ft (2024)
• Tamilnadu Sum Clearance Board: Rs 3,520 per sq.ft (2024)
• Teachers Colony 1st Street: Rs 7,150 per sq.ft (2024)
• Sri Ram Nagar Salai: Rs 9,900 per sq.ft (2024)
• Teachers Colony 2nd Street: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Subramania Colony

For a 1,000 sq.ft plot at the current rate of Rs 11,000 per sq.ft, the guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% is Rs 7,70,000, and the registration fee at 2% is Rs 2,20,000, totaling Rs 9,90,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subramania Colony?

The Sub Registrar Office that covers Subramania Colony 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 Thiruvanmiyur

The guideline value is a crucial factor when registering property in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When you buy or sell property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in the real estate market. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Subramania Colony?

The current guideline value of Subramania Colony is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,048 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, representing an overall increase of 437% over the years.

Where can I find the Sub Registrar Office for Subramania Colony?

The Sub Registrar Office for Subramania Colony 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.

What are the stamp duty and registration fees for property in Subramania Colony?

For a property valued at Rs 1,10,00,000 in Subramania Colony, the total stamp duty and registration fees amount to Rs 9,90,000, based on the current guideline value.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It acts as a benchmark to ensure that properties are registered at a fair value, promoting transparency in the real estate market.