Guideline Value for Subramani Street

Subramani Street guideline value

The current guideline value of Subramani Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO, classified as Residential Class II Type - III.

How the guideline value of Subramani Street has changed

The guideline value of Subramani Street has undergone several revisions over the years. The earliest recorded figure is from the 2007 revision, which was Rs 1,500 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in the 2012 revision, marking a 133% rise. However, in the 2017 revision, the value decreased to Rs 2,345 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 shows a substantial increase to Rs 3,850 per sq.ft, which is a 64% rise from 2017.

It is important to note that there are no figures available for Subramani Street in the revisions of 2023, 2003, and 2002. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 157%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Subramani Street's 2024 figure below this median.

• Subramaniyam Colony: Rs 4,400 per sq.ft (2024)
• Subramani Koil Street: Rs 3,850 per sq.ft (2024)
• Subramaniyar Koil Street: Rs 3,850 per sq.ft (2024)
• Subha Reddy Lane: Rs 3,850 per sq.ft (2024)
• Subba Reddy Lane, MKN Road: Rs 3,850 per sq.ft (2024)
• Sudha Nagar: Rs 3,850 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 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Subramani Street?

Subramani Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value helps in establishing the minimum value for taxation purposes. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as assessed by the local authorities.

Frequently asked questions

What is the current guideline value of Subramani Street?

The current guideline value of Subramani Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 157% over the years.

What is the land classification for Subramani Street?

Subramani Street is classified as Residential Class II Type - III.

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

For a property valued at Rs 38,50,000, the stamp duty is Rs 2,69,500 and the registration fee is Rs 77,000, totaling Rs 3,46,500.

Which office handles the registration for Subramani Street?

The Velacheri Sub Registrar Office handles the registration for Subramani Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.