Guideline Value for SUBRAMANIAM AVENUE

Subramaniam Avenue guideline value

The current guideline value of Subramaniam Avenue is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Subramaniam Avenue has changed

Over the years, the guideline value of Subramaniam Avenue has seen significant changes. Starting from the 2002 revision, the value was Rs 1,396 per sq.ft. This increased to Rs 1,544 per sq.ft in 2003, marking an 11% rise. The value then rose by 17% to Rs 1,800 per sq.ft in 2007. Following this, there was a substantial increase of 456%, bringing the value to Rs 10,000 per sq.ft in 2012. However, the 2017 revision saw a decrease of 33%, resulting in a value of Rs 6,700 per sq.ft. The value then increased by 49% to Rs 10,000 per sq.ft in 2023, and finally, it rose by 10% to the current value of Rs 11,000 per sq.ft in 2024.

There are no figures for the revisions of the years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 688%.

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, which means that the 2024 figure for Subramaniam Avenue is above this median.

• Subramania Colony: 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)
• Teachers Colony 2nd Street: Rs 7,150 per sq.ft (2024)
• Sri Ram Nagar Salai: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Subramaniam Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total cost for these fees to Rs 9,90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Subramaniam Avenue?

The Sub Registrar Office that covers Subramaniam Avenue 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 crucial during the registration of property transactions in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Subramaniam Avenue?

The current guideline value of Subramaniam Avenue 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 changed from Rs 1,396 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, showing an overall increase of 688% over the years.

What is the stamp duty rate for property in Subramaniam Avenue?

The stamp duty rate for property in Subramaniam Avenue is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Subramaniam Avenue?

The Sub Registrar Office for Subramaniam Avenue is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

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

Other streets in Thiruvanmiyur include Subramania Colony at Rs 11,000 per sq.ft, Subbu Street and Tamilnadu Sum Clearance Board both at Rs 3,520 per sq.ft, and Teachers Colony 1st and 2nd Streets at Rs 7,150 per sq.ft.