Guideline Value for SUBRAMANIA SIVA STREET

Subramania Siva Street guideline value

The current guideline value of Subramania Siva Street is Rs 800 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village, under the jurisdiction of the Manavalanagar SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Subramania Siva Street has changed

The guideline value of Subramania Siva Street has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 125 per sq.ft. This value increased significantly to Rs 800 per sq.ft in 2012, marking a change of +540%. However, from 2012 to 2017, the value decreased to Rs 536 per sq.ft, a drop of -33%. The value then rose to Rs 800 per sq.ft in 2023, and remained unchanged at Rs 800 per sq.ft in the 2024 revision.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by +540%.

Guideline values in Vengathur

In Vengathur village, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. Subramania Siva Street's 2024 guideline value of Rs 800 per sq.ft is below this median.

• Sundaram Street: Rs 1,300 per sq.ft (2024)
• Sriperumpudur Main Salai-II (Sampandanar Street Part To Sri Ganesh Mahal Kalyana Mandapam): Rs 2,000 per sq.ft (2024)
• Sriperumpudur Main Salai-I (Indhira Gandhi Silai To Sampandanar Street Part): Rs 2,000 per sq.ft (2024)
• Thangadurai Street: Rs 800 per sq.ft (2024)
• Thangavel Reddy Street: Rs 1,300 per sq.ft (2024)
• Theeran Sivalingam Street: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Subramania Siva Street

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, leading to a total of Rs 72,000 for these charges. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subramania Siva Street?

The Subramania Siva Street falls under the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Vengathur. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value for Subramania Siva Street?

The current guideline value for Subramania Siva Street is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2007 to Rs 800 per sq.ft in 2024, reflecting an overall increase of +540% since then.

What are the other streets in Vengathur with their guideline values?

Other streets in Vengathur include Sundaram Street at Rs 1,300 per sq.ft, Sriperumpudur Main Salai-II at Rs 2,000 per sq.ft, and Thangadurai Street at Rs 800 per sq.ft, among others.

Where can I find the Sub Registrar Office for this street?

The Manavalanagar Sub Registrar Office, which covers Subramania Siva Street, is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is stamp duty calculated for properties in Vengathur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 8,00,000, the stamp duty at 7% would be Rs 56,000.