Guideline Value for Subramaniapuram

Subramaniapuram guideline value

The current guideline value of Subramaniapuram, located in Puthur village under the Tambaram Joint 1 SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - II land classification.

How the guideline value of Subramaniapuram has changed

Over the years, the guideline value of Subramaniapuram has seen several revisions. The 2012 revision recorded a value of Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 500 per sq.ft, and the latest 2024 revision has set it at Rs 550 per sq.ft, reflecting a 10% increase from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%, while from 2017 to 2023, it rose significantly by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The current value of Rs 550 per sq.ft is below the median of Rs 1,100 per sq.ft for the 63 streets in Puthur under the Tambaram Joint 1 SRO.

Guideline values in Puthur

Puthur village has a range of guideline values for its streets, with figures varying from Rs 330 to Rs 4,600 per sq.ft as per the 2024 revision. The median value in this area is Rs 1,100 per sq.ft, indicating that Subramaniapuram's current guideline value is below this median. Here are some other streets in Puthur:

• Sunrise Avenue: Rs 3,300 per sq.ft (2024)
• Thanigaivel Nagar: Rs 330 per sq.ft (2024)
• Thirumalai Nagar: Rs 1,100 per sq.ft (2024)
• Thirumalai nagar Annex: Rs 1,100 per sq.ft (2024)
• Sri Balaji Nagar: Rs 770 per sq.ft (2024)
• United Colony: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Subramaniapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total cost for these fees Rs 49,500. It is important to note that 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 Subramaniapuram?

The Sub Registrar Office that covers Subramaniapuram is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Puthur

The guideline value plays a crucial role in the registration process when buying or selling property in Puthur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property transactions.

When a property is sold, the buyer and seller must consider the guideline value to calculate applicable fees such as stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, which helps in maintaining a standard for property transactions in the area.

Frequently asked questions

What is the current guideline value of Subramaniapuram?

The current guideline value of Subramaniapuram is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What are the other streets in Puthur and their guideline values?

Other streets in Puthur include Sunrise Avenue at Rs 3,300 per sq.ft, Thanigaivel Nagar at Rs 330 per sq.ft, and Thirumalai Nagar at Rs 1,100 per sq.ft, among others.

What are the stamp duty and registration fees for property in Subramaniapuram?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 5,50,000, the total fees would amount to Rs 49,500.

Which Sub Registrar Office covers Subramaniapuram?

The Tambaram Joint 1 Sub Registrar Office covers Subramaniapuram, located at No.26, Mes Road, East Tambaram, Chennai-600059.