Guideline Value for SUBRAMANIYAR KOIL 1ST STREET

Subramaniyar Koil 1st Street guideline value

The current guideline value of Subramaniyar Koil 1st Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - III.

How the guideline value of Subramaniyar Koil 1st Street has changed

The guideline value has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 1,000 per sq.ft in the 2023 revision, and further rose to Rs 1,100 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,660 per sq.ft, placing Subramaniyar Koil 1st Street's 2024 figure below that median.

• Subramaniyar Koil 1st Cross Street: Rs 1,100 per sq.ft (2024)
• Subramaniyar Koil 2nd Street: Rs 770 per sq.ft (2024)
• Subramaniyar Koil 3rd Street: Rs 770 per sq.ft (2024)
• Subbuammal Salai: Rs 1,970 per sq.ft (2024)
• Sundaresan Nagar: Rs 2,420 per sq.ft (2024)
• Subalakshmi Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Subramaniyar Koil 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost for these fees Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subramaniyar Koil 1st Street?

The Sub Registrar Office that covers Subramaniyar Koil 1st Street 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 Vanagaram

The guideline value is a crucial factor in the registration process of property transactions in Vanagaram. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value ensures that both parties are aware of the minimum value assigned to the property. This helps in maintaining transparency and fairness in property dealings, as it prevents undervaluation during registration.

Frequently asked questions

What is the current guideline value of Subramaniyar Koil 1st Street?

The current guideline value of Subramaniyar Koil 1st Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Subramaniyar Koil 1st Street?

The land classification for Subramaniyar Koil 1st Street is Residential Class IV Type - III.

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

The Sub Registrar Office for Subramaniyar Koil 1st Street 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.

How is 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, on a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.