Guideline Value for SUBRAMANIYA NAGAR CROSS STREET

Subramaniya Nagar Cross Street guideline value

The current guideline value of Subramaniya Nagar Cross Street is Rs 5,800 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village, under the Kodambakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Subramaniya Nagar Cross Street has changed

The guideline value for Subramaniya Nagar Cross Street has seen significant changes over the years. The 2007 revision recorded a value of Rs 1,650 per sq.ft, which increased to Rs 5,300 per sq.ft in 2012. However, this figure dropped to Rs 3,551 per sq.ft in 2017. The subsequent revisions saw an increase, with the 2023 revision at Rs 5,300 per sq.ft and the latest 2024 revision rising to Rs 5,800 per sq.ft, marking a 9% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, there has been a substantial increase of 252%. The 2012 to 2017 revision saw a decrease of 33%, while the 2017 to 2023 revision experienced a significant increase of 49%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value is Rs 5,800 per sq.ft, which aligns with the current guideline value of Subramaniya Nagar Cross Street.

• Subramaniya Nagar Main Nagar: Rs 6,300 per sq.ft (2024)
• Subramanya Nagar 1st Street: Rs 5,800 per sq.ft (2024)
• Subramanya Nagar 2nd Street: Rs 5,800 per sq.ft (2024)
• Subramanya Nagar 3rd Street: Rs 5,800 per sq.ft (2024)
• Subramanian Street: Rs 4,400 per sq.ft (2024)
• Subedar Garden: Rs 4,600 per sq.ft (2024)

Stamp duty and registration fee for property in Subramaniya Nagar Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,800 per sq.ft, the total guideline value would be Rs 58,00,000. The stamp duty at 7% would be Rs 4,06,000, and the registration fee at 2% would be Rs 1,16,000, bringing the total to Rs 5,22,000. It is important to note that the 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 details.

Which Sub Registrar Office covers Subramaniya Nagar Cross Street?

The Kodambakkam Sub Registrar Office covers Subramaniya Nagar Cross Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the officially recognized value of the property.

When a property is sold, the guideline value helps determine the minimum sale price for registration. This means that buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Subramaniya Nagar Cross Street?

The current guideline value of Subramaniya Nagar Cross Street is Rs 5,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,650 per sq.ft in 2007 to Rs 5,800 per sq.ft in 2024, reflecting an overall increase of 252% over this period.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 58,00,000, the total fees would amount to Rs 5,22,000.

Which office handles registrations for Subramaniya Nagar Cross Street?

The Kodambakkam Sub Registrar Office handles registrations for Subramaniya Nagar Cross Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the significance of the guideline value when buying property?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the costs associated with buying or selling property are based on an officially recognized value.