Guideline Value for Subburaja Appartment

Subburaja Appartment guideline value

The current guideline value for Subburaja Appartment in Kolathur village, under the Sembiam SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class II Type - I land classification.

How the guideline value of Subburaja Appartment has changed

Since the year 2003, the guideline value for Subburaja Appartment has seen significant changes. In 2003, the guideline value was Rs 265 per sq.ft, which increased to Rs 700 per sq.ft in 2007, marking a 164% rise. The value then surged to Rs 2,500 per sq.ft in 2012, reflecting a substantial increase of 257%. However, between 2012 and 2017, the value dropped to Rs 1,675 per sq.ft, a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, representing a 61% increase from the 2017 figure.

It is important to note that the register does not have figures for the years 2023 and 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 919%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Subburaja Appartment is below this median.

• Subramaniyam Nagar: Rs 2,700 per sq.ft (2024)
• Subramaniyapuram 1st Street: Rs 2,700 per sq.ft (2024)
• Subramaniyapuram 2nd Street: Rs 2,700 per sq.ft (2024)
• Subramaniyapuram 3rd Street: Rs 2,700 per sq.ft (2024)
• Subramaniyapuram Main Road: Rs 3,300 per sq.ft (2024)
• Sundaram Nagar 1st Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Subburaja Appartment

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost for these fees Rs 2,43,000. Please 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 Subburaja Appartment?

The Sub Registrar Office that covers Subburaja Appartment is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kolathur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value ensures that the government receives the appropriate revenue from property transactions.

When selling property, the guideline value can influence the sale price, as it serves as a benchmark for buyers and sellers. It is essential for both parties to be aware of the current guideline value to facilitate a smooth transaction.

Frequently asked questions

What is the current guideline value for Subburaja Appartment?

The current guideline value for Subburaja Appartment is Rs 2,700 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 265 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 919% over this period.

What is the land classification for Subburaja Appartment?

Subburaja Appartment falls under the Residential Class II Type - I land classification.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for property in Kolathur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at a rate of 7%.