Guideline Value for Subramaniam Cross Street

Subramaniam Cross Street guideline value

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

How the guideline value of Subramaniam Cross Street has changed

The guideline value for Subramaniam Cross Street has seen revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was later increased to Rs 2,200 per sq.ft in the 2024 revision, marking a change of 10%. Notably, the register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

From the 2012 revision to the 2024 revision, the increase in the guideline value reflects a 10% rise. The current value is now established at Rs 2,200 per sq.ft, which is below the median guideline value of Rs 2,700 per sq.ft for other streets in Kodungaiyur.

Guideline values in Kodungaiyur

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

• Subramani 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 Subramaniam Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subramaniam Cross Street?

The Sub Registrar Office that covers Subramaniam Cross Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial 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 that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Subramaniam Cross Street?

The current guideline value of Subramaniam Cross 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 increased from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the median guideline value for streets in Kodungaiyur?

The median guideline value for streets in Kodungaiyur is Rs 2,700 per sq.ft, while Subramaniam Cross Street's value is below this median.

What are the stamp duty rates for property in Subramaniam Cross Street?

The stamp duty for property transactions in Subramaniam Cross Street is 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.