Guideline Value for SUBRAMANIYAR KOIL 2ND STREET

Subramaniyar Koil 2nd Street guideline value

The current guideline value of Subramaniyar Koil 2nd Street is Rs 770 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 V Type - III.

How the guideline value of Subramaniyar Koil 2nd Street has changed

The guideline value for Subramaniyar Koil 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in the 2017 revision. Subsequently, the value increased significantly to Rs 700 per sq.ft in 2023, and then rose again to Rs 770 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 770 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 1,660 per sq.ft, making the current value for Subramaniyar Koil 2nd Street below this median.

• Subramaniyar Koil 1st Street: Rs 1,100 per sq.ft (2024)
• Subramaniyar Koil 3rd Street: Rs 770 per sq.ft (2024)
• Subramaniyar Koil 1st Cross Street: Rs 1,100 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total fees together to Rs 69,300. It is important to note that 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 2nd Street?

The Subramaniyar Koil 2nd Street is covered by 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 when registering property transactions in Vanagaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is sold, the guideline value is used to calculate the registration fees and stamp duty, which are essential for the legal transfer of ownership. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Subramaniyar Koil 2nd Street?

The current guideline value of Subramaniyar Koil 2nd Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification for Subramaniyar Koil 2nd Street?

The land classification for Subramaniyar Koil 2nd Street is Residential Class V Type - III.

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

The Sub Registrar Office covering Subramaniyar Koil 2nd 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 Vanagaram?

Stamp duty for properties in Vanagaram is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for registration fees.