Guideline Value for Subramani Siva St ( Ward No.23 )

Subramani Siva St ( Ward No.23 ) guideline value

The current guideline value for Subramani Siva St ( Ward No.23 ) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Subramani Siva St ( Ward No.23 ) has changed

The guideline value for Subramani Siva St has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision. The most recent revision in 2024 has seen a significant increase to Rs 1,600 per sq.ft, marking a 59% rise from the 2017 figure. It is important to note that there are no figures available for the years 2023, 2007, 2003, and 2002 for this street.

When looking at the overall changes, from the 2012 revision to the 2024 revision, there has been a slight increase of 7%. The fluctuations in the guideline value demonstrate the varying assessments made by the authorities over the years.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which is equal to the current guideline value for Subramani Siva St.

• Subramani Nagar ( Ward No.8 ): Rs 1,600 per sq.ft (2024)
• Subramani Nagar, Vinayagapuram (Ward-29): Rs 1,600 per sq.ft (2024)
• Subramani Nagar Rd ( Ward No.2 ): Rs 1,600 per sq.ft (2024)
• Subramani Nagar Periachekadu (Ward-01): Rs 1,600 per sq.ft (2024)
• Subramani Street (Ward-01): Rs 1,600 per sq.ft (2024)
• Subramaniya Garden Extension-I: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Subramani Siva St ( Ward No.23 )

For a property measuring 1,000 sq.ft at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Subramani Siva St ( Ward No.23 )?

The Sub Registrar Office that covers Subramani Siva St ( Ward No.23 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more assistance.

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

The guideline value plays a crucial role in the registration of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a property is registered, the authorities will assess the guideline value to ensure that the appropriate fees are collected based on the value of the property. This ensures transparency and compliance with the regulations set forth by the registration department.

Frequently asked questions

What is the current guideline value for Subramani Siva St ( Ward No.23 )?

The current guideline value for Subramani Siva St ( Ward No.23 ) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value for Subramani Siva St has seen various revisions. It was Rs 1,500 per sq.ft in 2012, decreased to Rs 1,005 per sq.ft in 2017, and has now increased to Rs 1,600 per sq.ft in 2024.

What is the stamp duty rate for properties in Madhavaram?

The stamp duty rate for properties in Madhavaram is 7%. This is calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the registration office for Subramani Siva St?

The registration office covering Subramani Siva St is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the median guideline value for streets in Madhavaram?

The median guideline value for streets in Madhavaram is Rs 1,600 per sq.ft, which is the same as the current guideline value for Subramani Siva St ( Ward No.23 ).