Guideline Value for Subramani Street

Subramani Street guideline value

The current guideline value of Subramani Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village, which falls under the Pallavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Subramani Street has changed

Over the years, the guideline value of Subramani Street has seen significant changes. In the 2007 revision, the value was Rs 400 per sq.ft, which rose dramatically to Rs 1,500 per sq.ft in the 2012 revision, marking an increase of 275%. However, in the 2017 revision, the value dropped to Rs 1,005 per sq.ft, reflecting a decrease of 33%. The subsequent revisions saw a rise, with the 2023 revision setting the value at Rs 1,500 per sq.ft, and the latest 2024 revision increasing it to Rs 1,650 per sq.ft, a change of 10% from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, placing Subramani Street's 2024 figure below that median.

• Sudamani Street: Rs 1,650 per sq.ft (2024)
• Station Border Road: Rs 2,970 per sq.ft (2024)
• State Bank Colony: Rs 3,850 per sq.ft (2024)
• Sundarthamman Colony: Rs 3,300 per sq.ft (2024)
• Thiropathi Nagar: Rs 1,650 per sq.ft (2024)
• Sriram Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Subramani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Subramani Street?

The Sub Registrar Office that covers Subramani Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value is a crucial factor in property transactions in Hastinapuram. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate applicable stamp duty and registration fees.

During the registration process, the guideline value ensures that the transaction reflects a fair assessment of the property's worth. This is essential for both buyers and sellers to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Subramani Street?

The current guideline value of Subramani Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 313% over the years.

What are the stamp duty and registration fees for property on Subramani Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 16,50,000, leading to a stamp duty of Rs 1,15,500 and a registration fee of Rs 33,000, totaling Rs 1,48,500.

Which office handles registrations for Subramani Street?

The Pallavaram Sub Registrar Office handles registrations for Subramani Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value for property registration and to calculate applicable stamp duty and registration fees, ensuring fair assessments during transactions.