Guideline Value for SUBRAMANYA NAGAR 1ST STREET

Subramanya Nagar 1st Street guideline value

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

How the guideline value of Subramanya Nagar 1st Street has changed

The guideline value for Subramanya Nagar 1st Street has seen several revisions over the years. The earliest available figure is from 2007, where it was Rs 1,650 per sq.ft. This increased significantly to Rs 5,300 per sq.ft in 2012, marking a rise of 221%. However, between 2012 and 2017, the value decreased to Rs 3,551 per sq.ft, a decline of 33%. The value then rose again to Rs 5,300 per sq.ft in 2023, representing a 49% increase. The latest revision in 2024 has set the guideline value at Rs 5,800 per sq.ft, which is a 9% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 252%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value in this area is Rs 5,800 per sq.ft, which is equal to the current guideline value of Subramanya Nagar 1st Street.

• Subramanya Nagar 2nd Street: Rs 5,800 per sq.ft (2024)
• Subramanya Nagar 3rd Street: Rs 5,800 per sq.ft (2024)
• Subramaniya Nagar Main Nagar: Rs 6,300 per sq.ft (2024)
• Subramaniya Nagar Cross 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 Subramanya Nagar 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 5,800 per sq.ft, the guideline value amounts to 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, totaling Rs 5,22,000. It is important to note that 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 Subramanya Nagar 1st Street?

The Sub Registrar Office that covers Subramanya Nagar 1st Street is the Kodambakkam Sub Registrar Office, 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 when registering property transactions in Puliyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the buyer and seller must consider the guideline value to avoid any legal issues during registration. The registration process will require payment of stamp duty and registration fees based on this value, which is calculated on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Subramanya Nagar 1st Street?

The current guideline value of Subramanya Nagar 1st 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, representing an overall increase of 252%.

What are the other streets in Puliyur with similar guideline values?

Other streets in Puliyur, such as Subramanya Nagar 2nd Street and Subramanya Nagar 3rd Street, also have a guideline value of Rs 5,800 per sq.ft in 2024.

What is the stamp duty and registration fee for properties in this area?

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

Which office handles property registrations in Subramanya Nagar?

The Kodambakkam Sub Registrar Office handles property registrations for Subramanya Nagar 1st Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.