Guideline Value for Subramaniar street(Iyappan nagar)

Subramaniar street(Iyappan nagar) guideline value

The current guideline value of Subramaniar street (Iyappan nagar) is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village under the Ambattur SRO, and it falls under the Residential Special Type - II land classification.

How the guideline value of Subramaniar street(Iyappan nagar) has changed

Over the years, the guideline value of Subramaniar street (Iyappan nagar) has seen several revisions. The 2007 revision set the value at Rs 400 per sq.ft, which increased significantly to Rs 1,600 per sq.ft in the 2012 revision. However, there was a decrease to Rs 1,072 per sq.ft in the 2017 revision. The value then rose to Rs 1,600 per sq.ft in the 2023 revision, and currently, it stands at Rs 1,700 per sq.ft as per the 2024 revision. The register has no figures for the years 2002 and 2003.

The changes between these revisions reflect notable fluctuations. From 2007 to 2012, the value increased by 300%, but then it decreased by 33% from 2012 to 2017. Following this, there was a substantial increase of 49% from 2017 to 2023, and finally, a 6% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 325%.

Guideline values in Ayappakkam

In Ayappakkam, there are a total of 221 streets under the Ambattur SRO that carry a guideline value for 2024, ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 1,300 per sq.ft, placing Subramaniar street (Iyappan nagar) above this median at Rs 1,700 per sq.ft.

• Subramani street(bhavani nagar): Rs 1,600 per sq.ft (2024)
• Sudakar Street: Rs 1,100 per sq.ft (2024)
• Sundaram street: Rs 1,700 per sq.ft (2024)
• Sundar Street(Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Sri. Seetha Pattabi Nagar Annex: Rs 1,700 per sq.ft (2024)
• Sri. Seetha Pattabi Nagar: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Subramaniar street(Iyappan nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subramaniar street(Iyappan nagar)?

The Sub Registrar Office that covers Subramaniar street (Iyappan nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Ayappakkam, as it determines the minimum value at which a property can be registered. This value is used by the registration authorities to calculate stamp duty and registration fees, ensuring that the transaction is documented at a fair value.

When a property is sold, the guideline value helps in establishing a baseline for the sale price. Buyers and sellers must be aware of this value to ensure compliance with the registration requirements and to avoid any potential disputes regarding the property's value during the registration process.

Frequently asked questions

What is the current guideline value of Subramaniar street (Iyappan nagar)?

The current guideline value of Subramaniar street (Iyappan nagar) is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, with various revisions in between, including a significant increase of 300% from 2007 to 2012 and a decrease of 33% from 2012 to 2017.

What is the land classification for Subramaniar street (Iyappan nagar)?

Subramaniar street (Iyappan nagar) is classified as Residential Special Type - II, which is relevant for determining the guideline value and property usage.

Where can I find the Sub Registrar Office for this area?

The Ambattur Sub Registrar Office covers Subramaniar street (Iyappan nagar) and is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 at a rate of 7%.