Guideline Value for Subbramaniya Salai(West Saidapet)

Subbramaniya Salai(West Saidapet) guideline value

The current guideline value of Subbramaniya Salai(West Saidapet) is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Subbramaniya Salai(West Saidapet) has changed

The guideline value for Subbramaniya Salai(West Saidapet) has seen several revisions over the years. The earliest recorded figure is from 2007, when it was Rs 1,210 per sq.ft. This figure increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 272%. However, by 2017, the value dropped to Rs 3,015 per sq.ft, a decrease of 33%. The value then rose to Rs 4,500 per sq.ft in 2023, followed by the current figure of Rs 4,900 per sq.ft in 2024, which represents a 9% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 305%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, which is equal to the current figure for Subbramaniya Salai(West Saidapet).

• Subramania Mudali Street (JPT): Rs 4,100 per sq.ft (2024)
• Subramania Samy Koil Street(Othavadai Street): Rs 4,100 per sq.ft (2024)
• Subash Chandira Bose Street: Rs 3,300 per sq.ft (2024)
• Subramaniya Iyyer Street(Vivekanandapuran 2nd, 3rd Street): Rs 6,600 per sq.ft (2024)
• Subramaniyam (Street) Block 82, 93: Rs 4,100 per sq.ft (2024)
• Subramaniya Mudali Street (Muthurangam Block): Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Subbramaniya Salai(West Saidapet)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, while the registration fee at 2% would be Rs 98,000, totaling Rs 4,41,000. 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 Subbramaniya Salai(West Saidapet)?

The Sub Registrar Office covering Subbramaniya Salai(West Saidapet) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government collects appropriate taxes on property transactions.

Frequently asked questions

What is the current guideline value for Subbramaniya Salai(West Saidapet)?

The current guideline value for Subbramaniya Salai(West Saidapet) is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,210 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, representing an overall increase of 305%.

What are the other streets in Kodambakkam with their guideline values?

Other streets in Kodambakkam include Subramania Mudali Street (JPT) and Subramania Samy Koil Street, both at Rs 4,100 per sq.ft, and Subash Chandira Bose Street at Rs 3,300 per sq.ft, among others.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for properties in Subbramaniya Salai(West Saidapet)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 49,00,000 incurs a stamp duty of Rs 3,43,000 at 7%.