Guideline Value for Subramainya Siva Street

Subramainya Siva Street guideline value

The current guideline value of Subramainya Siva Street is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village, under the Tambaram Joint 1 SRO, and is classified as Residential Special Type - I.

How the guideline value of Subramainya Siva Street has changed

The guideline value for Subramainya Siva Street has seen several revisions over the years. In 2007, the value was set at Rs 500 per sq.ft, which increased significantly to Rs 2,300 per sq.ft in 2012, marking a 360% rise. However, it then dropped to Rs 1,541 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 2,300 per sq.ft in 2023, and currently stands at Rs 2,530 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year. It is important to note that the register has no figures for this street for the years 2002 and 2003.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 406%. The changes between the revisions illustrate the fluctuations in property valuation over the years, with the most significant increase occurring between 2007 and 2012.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, placing Subramainya Siva Street's 2024 figure above this median.

• Sudhananda Bharati Street: Rs 3,850 per sq.ft (2024)
• Sumit Lane: Rs 2,530 per sq.ft (2024)
• Tamil Poonga Street: Rs 2,530 per sq.ft (2024)
• Thanthai Periyar Nagar: Rs 2,200 per sq.ft (2024)
• Sriram Nagar South 6th Street: Rs 3,300 per sq.ft (2024)
• Sriram Nagar South 5th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Subramainya Siva Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total to Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subramainya Siva Street?

The Sub Registrar Office that covers Subramainya Siva Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Irumpuliyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value helps in assessing the fair value of the property for taxation purposes. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Subramainya Siva Street?

The current guideline value of Subramainya Siva Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 2,530 per sq.ft in 2024, marking an overall increase of 406% over the years.

What is the land classification for Subramainya Siva Street?

Subramainya Siva Street is classified as Residential Special Type - I, which indicates its designated use for residential purposes.

Where can I find the registration office for Subramainya Siva Street?

The registration office covering Subramainya Siva Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Irumpuliyur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 25,30,000 would incur a stamp duty of Rs 1,77,100 at 7%.