Guideline Value for Subramania Swamy Koil Street

Subramania Swamy Koil Street guideline value

The current guideline value of Subramania Swamy Koil Street is Rs 2,970 per sq.ft, effective from 1 July 2024. This street is located in Mogalivakkam village under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Subramania Swamy Koil Street has changed

The guideline value for Subramania Swamy Koil Street has undergone several revisions over the years. In 2007, the value was Rs 791 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012. However, it then decreased to Rs 1,809 per sq.ft in 2017. The 2023 revision saw a rise to Rs 2,700 per sq.ft, followed by a further increase to Rs 2,970 per sq.ft in 2024. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2012 to 2017 was a decrease of 33%, while the increase from 2007 to 2012 was a substantial 241%. Overall, from 2007 to 2024, the guideline value has risen by 275%.

Guideline values in Mogalivakkam

In Mogalivakkam, there are 98 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median value is Rs 2,970 per sq.ft, which is the same as the current guideline value for Subramania Swamy Koil Street.

• Subhasri Nagar Extension IV: Rs 2,970 per sq.ft (2024)
• Subhasri Nagar Extension III: Rs 2,970 per sq.ft (2024)
• Subhasri Nagar Extension II: Rs 2,970 per sq.ft (2024)
• Subhasri Nagar Extension I: Rs 2,970 per sq.ft (2024)
• Subhasri Nagar: Rs 2,970 per sq.ft (2024)
• Sundara Vadivel Nagar: Rs 2,860 per sq.ft (2024)

Stamp duty and registration fee for property in Subramania Swamy Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, together amounting to Rs 2,67,300. Duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subramania Swamy Koil Street?

The Sub Registrar Office that covers Subramania Swamy Koil Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mogalivakkam. It serves as a benchmark for determining the stamp duty and registration fees payable during the registration of property transactions. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is referenced to calculate the applicable fees. It is essential to note that the duty is charged on the higher of the guideline value and the sale price, making it important for both parties to be aware of the current rates.

Frequently asked questions

What is the current guideline value of Subramania Swamy Koil Street?

The current guideline value of Subramania Swamy Koil Street is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 791 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, reflecting an overall increase of 275% over this period.

What is the land classification for Subramania Swamy Koil Street?

Subramania Swamy Koil Street is classified as Residential Special Type - I under the Kunrathur SRO.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in this area is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Kunrathur Sub Registrar Office covers Subramania Swamy Koil Street and is located at No.59, Road Street, Kundrathur, Chennai -600 069.