Guideline Value for Subramani Koil Street

Subramani Koil Street guideline value

The current guideline value of Subramani Koil Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Subramani Koil Street has changed

The guideline value for Subramani Koil Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 1,500 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in the 2012 revision. However, in the 2017 revision, the value dropped to Rs 2,345 per sq.ft. The most recent revision in 2024 has seen an increase to Rs 3,850 per sq.ft, marking a 64% increase from the 2017 figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 157%. The register has no figures for the years 2023, 2003, and 2002 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Subramani Koil Street's 2024 figure below this median.

• Subramani Street: Rs 3,850 per sq.ft (2024)
• Subha Reddy Lane: Rs 3,850 per sq.ft (2024)
• Subramaniyam Colony: Rs 4,400 per sq.ft (2024)
• Subba Reddy Lane, MKN Road: Rs 3,850 per sq.ft (2024)
• Subramaniyar Koil Street: Rs 3,850 per sq.ft (2024)
• Sudha Nagar: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Subramani Koil Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 38,50,000. The stamp duty, charged at 7%, would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subramani Koil Street?

The Sub Registrar Office that covers Subramani Koil Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Velachery. It is used to determine the stamp duty and registration fees that need to be paid during the property transaction. Buyers and sellers should be aware of the current guideline value to ensure they are compliant with the registration requirements.

When registering a property, the guideline value serves as a benchmark for the transaction. It ensures that the transaction is recorded at a value that reflects the current market conditions as determined by the government.

Frequently asked questions

What is the current guideline value of Subramani Koil Street?

The current guideline value of Subramani Koil Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,500 per sq.ft to Rs 3,850 per sq.ft in 2024, representing a total increase of 157% over these years.

What is the land classification of Subramani Koil Street?

Subramani Koil Street is classified as Residential Class II Type - III, indicating its designation for residential use.

Where can I find the Sub Registrar Office for this area?

The Velacheri Sub Registrar Office, which covers Subramani Koil Street, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated on properties in Velachery?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. This ensures that the correct fees are applied during the registration process.