Guideline Value for Subiksha Avenue

Subiksha Avenue guideline value

The current guideline value of Subiksha Avenue in Kovilambakkam village is Rs 2,750 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Subiksha Avenue has changed

The guideline value of Subiksha Avenue has seen significant changes over the years. In 2003, the guideline value was Rs 168 per sq.ft, which increased to Rs 389 per sq.ft in 2007, marking a rise of 132%. The value then surged to Rs 2,500 per sq.ft in 2012, a remarkable increase of 543%. However, it dropped to Rs 1,675 per sq.ft in 2017, reflecting a decrease of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,750 per sq.ft in 2024, an increase of 10%.

Overall, from 2003 to 2024, the guideline value has increased by 1,537%. The register has no figure for the year 2002 for this street.

Guideline values in Kovilambakkam

Kovilambakkam has a range of guideline values across its 61 streets under the Pallavaram SRO, with values ranging from Rs 1,320 to Rs 5,610 per sq.ft. The median guideline value for the village is Rs 2,750 per sq.ft, which is the same as the current guideline value for Subiksha Avenue.

• Subikisha Avenue 1 & 2 Main Road: Rs 2,750 per sq.ft (2024)
• Suseela Nagar: Rs 2,750 per sq.ft (2024)
• Syndicate Bank Staff Colony: Rs 2,750 per sq.ft (2024)
• Tamilkudimagan Nagar: Rs 2,750 per sq.ft (2024)
• Srisakthi Nagar: Rs 4,070 per sq.ft (2024)
• Thiruchudar: Rs 4,070 per sq.ft (2024)

Stamp duty and registration fee for property in Subiksha Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total charges to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subiksha Avenue?

The Sub Registrar Office that covers Subiksha Avenue is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kovilambakkam. It helps determine the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to avoid any legal issues during the registration process.

When a property is sold, the guideline value is used to calculate the necessary fees, ensuring that both parties are aware of the financial implications of the sale. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Subiksha Avenue?

The current guideline value of Subiksha Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 168 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 1,537%.

What is the registration office for Subiksha Avenue?

The registration office for Subiksha Avenue is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

How is stamp duty calculated for properties in Kovilambakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.

Are there other streets in Kovilambakkam with the same guideline value?

Yes, several other streets in Kovilambakkam have the same guideline value of Rs 2,750 per sq.ft, including Subikisha Avenue 1 & 2 Main Road, Suseela Nagar, Syndicate Bank Staff Colony, and Tamilkudimagan Nagar.