Guideline Value for Subramani Lane

Subramani Lane guideline value

The current guideline value of Subramani Lane is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Subramani Lane has changed

Over the years, the guideline value of Subramani Lane has seen significant changes. In the 2002 revision, the value was Rs 200 per sq.ft, which increased to Rs 226 per sq.ft in 2003, marking a 13% rise. The value continued to grow, reaching Rs 360 per sq.ft in 2007, a 59% increase from the previous revision. By 2017, the guideline value had surged to Rs 1,206 per sq.ft, reflecting a remarkable 235% increase since 2007. The 2023 revision set the value at Rs 1,800 per sq.ft, a 49% rise from 2017. The current 2024 revision has established the guideline value at Rs 1,980 per sq.ft, representing a 10% increase from the previous year.

It is important to note that there is no figure available for Subramani Lane in the 2012 revision. Overall, from 2002 to 2024, the guideline value has increased by an impressive 890%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with 2024 guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Subramani Lane's current value below this median.

• Subramani Street (R.V.) / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Subramaniam Street: Rs 1,980 per sq.ft (2024)
• St. Thomas Street / Muthamazhi Nagar: Rs 2,475 per sq.ft (2024)
• State Bank Colony (All Streets): Rs 2,750 per sq.ft (2024)
• Stalin Street, Moovendhar Ngar: Rs 1,980 per sq.ft (2024)
• Stalin Street (4th Street): Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Subramani Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty is calculated at 7%, which totals Rs 1,38,600, while the registration fee is 2%, amounting to Rs 39,600. Therefore, the total cost for stamp duty and registration would be Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subramani Lane?

The Sub Registrar Office that covers Subramani Lane is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pammal. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with legal requirements and aids in the smooth transfer of property ownership. It is advisable to check the latest guideline values before proceeding with any property transactions.

Frequently asked questions

What is the current guideline value of Subramani Lane?

The current guideline value of Subramani Lane is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 200 per sq.ft to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 890%.

What is the median guideline value for streets in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft, which is higher than the current value of Subramani Lane.

What are the stamp duty rates for properties in Subramani Lane?

The stamp duty for properties in Subramani Lane is calculated at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Subramani Lane?

The Sub Registrar Office for Subramani Lane is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more details online.