Guideline Value for SUBRAMANIYASAMY KOIL STREET

Subramaniyasamy Koil Street guideline value

The current guideline value of Subramaniyasamy Koil Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Subramaniyasamy Koil Street has changed

The guideline value for Subramaniyasamy Koil Street has seen several revisions over the years. In the 2002 revision, the guideline value was Rs 707 per sq.ft. This increased to Rs 814 per sq.ft in 2003, marking a 15% rise. The value then rose significantly to Rs 1,500 per sq.ft in 2007, which was a substantial 84% increase. In 2012, the value was Rs 4,500 per sq.ft, reflecting a 200% increase from the 2007 figure. However, in 2017, the value dropped to Rs 3,015 per sq.ft, showing a decrease of 33% from the previous revision.

Moving forward, the 2023 revision set the guideline value at Rs 4,500 per sq.ft, which was a 49% increase from the 2017 figure. The most recent revision in 2024 has established the guideline value at Rs 4,950 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 600%.

Guideline values in Saidapet

In Saidapet, there are 52 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 8,250 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Subramaniyasamy Koil Street's 2024 figure above this median.

• Subramania Mudali Street: Rs 4,400 per sq.ft (2024)
• Teacher Ramachandran Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Teacher Ramachandran Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Teacher Ramachandran Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Sembada Street: Rs 2,750 per sq.ft (2024)
• Vaniyar Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Subramaniyasamy Koil Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, while the registration fee at 2% would be Rs 99,000. Together, the total cost for these fees would be Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subramaniyasamy Koil Street?

The Subramaniyasamy Koil Street falls under 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 Saidapet

The guideline value is an essential factor in the registration process of property transactions in Saidapet. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees that buyers must pay.

When buying or selling property in Saidapet, it is crucial to be aware of the current guideline value, as it affects the overall cost of the transaction. Buyers should ensure that they are informed about the latest revisions to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Subramaniyasamy Koil Street?

The current guideline value of Subramaniyasamy Koil Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 707 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 600% over the years.

What is the land classification for Subramaniyasamy Koil Street?

The land classification for Subramaniyasamy Koil Street is Residential Class I Type - I.

Where can I find the registration office for Subramaniyasamy Koil Street?

The registration office covering Subramaniyasamy Koil 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 property transactions in Saidapet?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property with a guideline value of Rs 49,50,000, the stamp duty at 7% would be Rs 3,46,500.