Guideline Value for Subramaniam Street

Subramaniam Street guideline value

The current guideline value of Subramaniam Street in Selaiyur village, under the Selaiyur SRO, is Rs 1,800 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Subramaniam Street has changed

The guideline value for Subramaniam Street has undergone several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft. This figure saw a significant increase in 2012, where it rose to Rs 1,700 per sq.ft. However, in 2017, the value decreased to Rs 1,139 per sq.ft. The 2023 revision marked an increase to Rs 1,700 per sq.ft, followed by the latest revision in 2024, which brought the value to Rs 1,800 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2024, the overall increase in the guideline value is 500%. The change from 2023 to 2024 is a rise of 6%, while the jump from 2017 to 2023 is 49%. Notably, the value fell by 33% from 2012 to 2017, and the increase from 2007 to 2012 was a remarkable 467%.

Guideline values in Selaiyur

In Selaiyur, there are a total of 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in the village is Rs 2,200 per sq.ft, placing Subramaniam Street's 2024 figure below this median.

• Sumeru City Nagar: Rs 4,750 per sq.ft (2024)
• Sundaram Colony: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 1st Cross Street: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 1st Main Road: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 1st Street: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 2nd Cross Street: Rs 2,900 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 1,800 per sq.ft, the total guideline value would be Rs 18,00,000. The stamp duty at 7% would amount to Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, resulting in a total of Rs 1,62,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, 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 Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Selaiyur. It helps determine the stamp duty and registration fees payable at the time of the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both parties are aware of the financial obligations involved in the transfer of ownership. This process helps maintain transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Subramaniam Street?

The current guideline value of Subramaniam Street is Rs 1,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,800 per sq.ft in 2024, reflecting a total increase of 500% over the years.

What is the land classification for Subramaniam Street?

Subramaniam Street is classified as Residential Class II Type - I.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Subramaniam Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 18,00,000, the stamp duty would be Rs 1,26,000 at a rate of 7%.