Guideline Value for Subramaniam Street

Subramaniam Street guideline value

The current guideline value of Subramaniam Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Subramaniam Street has changed

The guideline value for Subramaniam Street has undergone several revisions over the years. The 2017 revision set the value at Rs 1,206 per sq.ft. This increased to Rs 1,800 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 further increased the value by 10%, bringing it to Rs 1,980 per sq.ft.

It is important to note that there are no recorded figures for Subramaniam Street in the revisions of 2002, 2003, 2007, and 2012. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that have a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 2,090 per sq.ft, which means Subramaniam Street's current value is below the median.

• Subramani Lane: Rs 1,980 per sq.ft (2024)
• Subramani Street (R.V.) / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• St. Thomas Street / Muthamazhi Nagar: Rs 2,475 per sq.ft (2024)
• State Bank Colony (All Streets): Rs 2,750 per sq.ft (2024)
• Stalin Street, Moovendhar Ngar: Rs 1,980 per sq.ft (2024)
• Stalin Street (4th Street): Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Subramaniam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subramaniam Street?

The Sub Registrar Office that covers Subramaniam Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two figures is used to calculate the associated fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Subramaniam Street?

The current guideline value of Subramaniam Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,206 per sq.ft to Rs 1,980 per sq.ft in 2024, representing a total increase of 64% over the seven-year period.

What is the median guideline value for streets in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft, which is higher than the current guideline value of Subramaniam Street.

What fees are associated with purchasing property on Subramaniam Street?

When purchasing property on Subramaniam Street, buyers should be aware of the stamp duty at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Subramaniam Street located?

The Sub Registrar Office for Subramaniam Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.