Guideline Value for SUBRAMANIA SIVA SALAI (WARD -8)

Subramania Siva Salai (Ward -8) guideline value

The current guideline value of Subramania Siva Salai (Ward -8) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village, under the Chengleput Joint II SRO, with a land classification of Residential Special Type - V.

How the guideline value of Subramania Siva Salai (Ward -8) has changed

The guideline value for Subramania Siva Salai has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, which reduced it to Rs 804 per sq.ft, marking a decrease of 33%. However, the value saw a significant increase in the following revisions, with the 2023 revision bringing it back up to Rs 1,200 per sq.ft, and then further increasing to Rs 1,321 per sq.ft in the 2024 revision, which is a rise of 10% from the previous year.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing the 2024 figure for Subramania Siva Salai above this median.

• Station Street (Ward -18): Rs 660 per sq.ft (2024)
• Sundarar Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Sri Vignesh Nagar: Rs 660 per sq.ft (2024)
• Surendhrapuram Phase - I: Rs 660 per sq.ft (2024)
• Surendhrapuram Phase -II: Rs 660 per sq.ft (2024)
• Surendhrapuram Phase -IV: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Subramania Siva Salai (Ward -8)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty at 7% would amount to Rs 92,470, and the registration fee at 2% would be Rs 26,420, resulting in a total of Rs 1,18,890 for these charges. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subramania Siva Salai (Ward -8)?

The Sub Registrar Office that covers Subramania Siva Salai (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Ninna Karai, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is legally compliant.

It is essential for buyers and sellers to be aware of the current guideline value to understand the financial implications of their property transactions. This value serves as a benchmark for both parties during negotiations and ensures transparency in the registration process.

Frequently asked questions

What is the current guideline value of Subramania Siva Salai (Ward -8)?

The current guideline value of Subramania Siva Salai (Ward -8) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024. The changes reflect a significant increase over the years.

What is the land classification for Subramania Siva Salai?

The land classification for Subramania Siva Salai (Ward -8) is Residential Special Type - V, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at the current rate incurs a total of Rs 1,18,890 in fees.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find more information about this office online.