Guideline Value for Subramani Street (V.L.Puram)

Subramani Street (V.L.Puram) guideline value

The current guideline value of Subramani Street (V.L.Puram) is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO, and it falls under the Residential Special Type - I land classification.

How the guideline value of Subramani Street (V.L.Puram) has changed

In the 2012 revision, the guideline value was set at Rs 2,200 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 1,474 per sq.ft, marking a decline of 33%. Following this, the value increased significantly to Rs 2,200 per sq.ft in the 2023 revision, and further rose to Rs 2,400 per sq.ft in the 2024 revision, reflecting a 9% increase.

From 2017 to 2023, the guideline value experienced a substantial rise of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Oragadam

In Oragadam village, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Subramani Street (V.L.Puram) is above this median.

• Subramaniar Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Subash Chandrabose Street: Rs 2,200 per sq.ft (2024)
• Sundaram Street: Rs 2,400 per sq.ft (2024)
• Sundharanar Street (Ram Nagar): Rs 2,400 per sq.ft (2024)
• S.S.Koil Street: Rs 1,600 per sq.ft (2024)
• S.V.Koil Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Subramani Street (V.L.Puram)

For a 1,000 sq.ft plot at the current rate, the guideline value would amount to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, while the registration fee at 2% would be Rs 48,000, totaling Rs 2,16,000. 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 Street (V.L.Puram)?

The Sub Registrar Office that covers Subramani Street (V.L.Puram) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor during the registration of property transactions in Oragadam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these charges are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Subramani Street (V.L.Puram)?

The current guideline value of Subramani Street (V.L.Puram) is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then increased to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What is the land classification for Subramani Street (V.L.Puram)?

Subramani Street (V.L.Puram) is classified as Residential Special Type - I under the land classification system.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the same. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 2,16,000 in fees.

Which office handles registrations for Subramani Street (V.L.Puram)?

The Ambattur Sub Registrar Office handles registrations for Subramani Street (V.L.Puram), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.