Guideline Value for SUBRAMANIYA IYER STREET

Subramaniya Iyer Street guideline value

The current guideline value of Subramaniya Iyer Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class I Type - II.

How the guideline value of Subramaniya Iyer Street has changed

Over the years, the guideline value of Subramaniya Iyer Street has seen significant changes. In 2003, the value was Rs 509 per sq.ft, which rose to Rs 700 per sq.ft in 2007, marking an increase of 38%. The value then surged to Rs 4,500 per sq.ft in 2012, reflecting a remarkable increase of 543%. However, from 2012 to 2017, the value decreased to Rs 3,015 per sq.ft, a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 4,900 per sq.ft, representing a 63% increase from the 2017 figure.

The register has no figures for the years 2023 and 2002. Overall, from 2003 to 2024, the guideline value has increased by 863%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, indicating that Subramaniya Iyer Street's 2024 figure is above this median.

• Subramaniya Chetty Street: Rs 4,900 per sq.ft (2024)
• Subramaniya Barathi Street: Rs 4,900 per sq.ft (2024)
• Subramaniya Barathi Main Road: Rs 4,900 per sq.ft (2024)
• Subramaniya Barathi Cross Street: Rs 4,300 per sq.ft (2024)
• Subramaniyam Street / Road: Rs 4,900 per sq.ft (2024)
• Subramaniya Mudali Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Subramaniya Iyer Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, totaling Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subramaniya Iyer Street?

The Sub Registrar Office covering Subramaniya Iyer Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Perambur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold, the guideline value is used to calculate the fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This helps maintain transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Subramaniya Iyer Street?

The current guideline value of Subramaniya Iyer Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 509 per sq.ft in 2003 to Rs 4,900 per sq.ft in 2024, which is an overall increase of 863%.

What is the land classification for Subramaniya Iyer Street?

Subramaniya Iyer Street is classified as Residential Class I Type - II under the land classification guidelines.

Where can I find the registration office for this street?

The registration office for Subramaniya Iyer Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a total stamp duty and registration fee of Rs 4,41,000.