Guideline Value for Subramani Street

Subramani Street guideline value

The current guideline value of Subramani Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Subramani Street has changed

The guideline value for Subramani Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in the 2017 revision. This marked a significant decline of 33%. However, the most recent 2024 revision has increased the value to Rs 2,200 per sq.ft, reflecting a rise of 64% from the 2017 figure.

When looking at the overall changes, the guideline value increased by 10% from the 2012 figure to the 2024 figure. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft as of 2024. The median guideline value in the village is Rs 2,700 per sq.ft, placing Subramani Street's value below this median.

• Subramaniam Cross Street: Rs 2,200 per sq.ft (2024)
• Suganthammal Nagar: Rs 2,200 per sq.ft (2024)
• Sundarar Street: Rs 2,700 per sq.ft (2024)
• Sundarar Street (Vivekananda Nagar): Rs 2,700 per sq.ft (2024)
• Susila Nagar 1st Main Road: Rs 2,700 per sq.ft (2024)
• Susila Nagar 1st Street: Rs 2,700 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subramani Street?

The Sub Registrar Office that covers Subramani Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in real estate transactions in the region.

Frequently asked questions

What is the current guideline value of Subramani Street?

The current guideline value of Subramani Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then to Rs 2,200 per sq.ft in 2024, reflecting a 64% increase from 2017 to 2024.

What is the land classification of Subramani Street?

Subramani Street is classified as Residential Class II Type - I according to the local land classification regulations.

Where can I find the registration office for Subramani Street?

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

How is stamp duty calculated for properties in Subramani Street?

Stamp duty for properties in Subramani Street is calculated based on the guideline value or the sale price, whichever is higher, with a rate of 7% for stamp duty and 2% for the registration fee.