Guideline Value for SUBRAMANIA SWAMY KOIL STREET

Subramania Swamy Koil Street guideline value

The current guideline value of Subramania Swamy Koil Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village, under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Subramania Swamy Koil Street has changed

The guideline value for Subramania Swamy Koil Street has seen several revisions since 2002. The earliest recorded value in 2002 was Rs 591 per sq.ft. This figure increased to Rs 766 per sq.ft in 2003, marking a 30% rise. Following this, the value rose to Rs 1,429 per sq.ft in 2007, which was an 87% increase. In 2012, the value was recorded at Rs 4,500 per sq.ft, reflecting a significant 215% increase from the previous revision. However, this value dropped to Rs 3,015 per sq.ft in 2017, showing a decrease of 33% from 2012. The guideline value then increased to Rs 4,500 per sq.ft in 2023, a rise of 49% from 2017, and finally reached Rs 4,950 per sq.ft in the 2024 revision, representing a 10% increase from the previous year.

There are no figures available for the years not mentioned in the register for this street. The overall change from 2002 to 2024 reflects a substantial increase of 738% in the guideline value per sq.ft.

Guideline values in Saidapet

Saidapet has 106 streets under the Chennai South Joint II SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Subramania Swamy Koil Street's 2024 figure above that median.

• Subramania Mudali Street: Rs 4,950 per sq.ft (2024)
• Sundaraswarar Koil 1st Lane: Rs 4,400 per sq.ft (2024)
• Sundaraswarar Koil 2nd Lane: Rs 4,400 per sq.ft (2024)
• Sundaraswarar Koil St (A) Sowndares Warar Koil Street: Rs 4,400 per sq.ft (2024)
• Sowndareeswarar Koil Street: Rs 3,300 per sq.ft (2024)
• Thiruvalluvar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Subramania Swamy Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value is Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000. Together, the total cost for stamp duty and registration fee would amount to Rs 4,45,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Subramania Swamy Koil Street?

The Sub Registrar Office that covers Subramania Swamy Koil 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 further assistance.

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

The guideline value is a critical factor during the registration process when buying or selling property in Saidapet. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Subramania Swamy Koil Street?

The current guideline value of Subramania Swamy Koil Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 591 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 738% over this period.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

Which office handles property registrations for Subramania Swamy Koil Street?

The Chennai South Joint II Sub Registrar Office handles property registrations for Subramania Swamy Koil Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Subramania Swamy Koil Street?

The land classification for Subramania Swamy Koil Street is Residential Class II Type - I.