Guideline Value for Subramaniam Street (Bashyam Reddy Colony)

Subramaniam Street (Bashyam Reddy Colony) guideline value

The current guideline value of Subramaniam Street (Bashyam Reddy Colony) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Subramaniam Street (Bashyam Reddy Colony) has changed

Over the years, the guideline value of Subramaniam Street has seen several revisions. The earliest recorded revision in 2007 set the value at Rs 1,000 per sq.ft. This figure increased significantly to Rs 2,500 per sq.ft in 2012, marking a 150% rise. However, the value then decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. The subsequent revision in 2023 saw another increase to Rs 2,500 per sq.ft, followed by the latest revision in 2024, which set the guideline value at Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%, bringing the value back to Rs 2,500 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 170%, culminating in the current rate of Rs 2,700 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft, with a median value of Rs 3,301 per sq.ft. The guideline value for Subramaniam Street (Bashyam Reddy Colony) is below this median.

• Subramani Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Sugan Raj Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Sundaram Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Sundararaja Perumal Colony 10th Street: Rs 4,400 per sq.ft (2024)
• Sundararaja Perumal Colony 11th Street: Rs 4,400 per sq.ft (2024)
• Sundararaja Perumal Colony 12th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Subramaniam Street (Bashyam Reddy Colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that the 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 accurate calculations.

Which Sub Registrar Office covers Subramaniam Street (Bashyam Reddy Colony)?

The Sub Registrar Office that covers Subramaniam Street (Bashyam Reddy Colony) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Peravallur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and standardization in property transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the property's value in the current market.

Frequently asked questions

What is the current guideline value of Subramaniam Street?

The current guideline value of Subramaniam Street (Bashyam Reddy Colony) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 170% over the years.

What is the stamp duty for property in Subramaniam Street?

The stamp duty for property in Subramaniam Street is calculated at 7% of the guideline value. For a 1,000 sq.ft plot, this would amount to Rs 1,89,000.

What is the registration fee for property transactions?

The registration fee for property transactions in Subramaniam Street is charged at 2% of the guideline value. For a 1,000 sq.ft plot, this fee would be Rs 54,000.

Where is the Sub Registrar Office located for this street?

The Sub Registrar Office for Subramaniam Street (Bashyam Reddy Colony) is located at 5, Papermills Road, Sembiam, Chennai - 600011.