Guideline Value for Subramanium Street

Subramanium Street guideline value

The current guideline value of Subramanium Street, located in Erukancherry village under the Madhavaram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - I land classification.

How the guideline value of Subramanium Street has changed

Subramanium Street has seen several revisions in its guideline value over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which decreased by 33% to Rs 1,340 per sq.ft in the 2017 revision. The value then increased significantly by 49% to Rs 2,000 per sq.ft in the 2023 revision, followed by a further increase of 10% to the current rate of Rs 2,200 per sq.ft in the 2024 revision. It is important to note that there are no figures available for this street in the 2002, 2003, and 2007 revisions.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The most recent change from 2023 to 2024 reflects a 10% increase, indicating a steady rise in the guideline value in recent years.

Guideline values in Erukancherry

Erukancherry village has a total of 376 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 3,800 per sq.ft as per the 2024 revision. The median guideline value in this area is Rs 2,500 per sq.ft, placing Subramanium Street's 2024 figure below that median.

• St. Peters Street: Rs 2,200 per sq.ft (2024)
• St. Pauls Street: Rs 1,900 per sq.ft (2024)
• St. Luthern Mada Street: Rs 1,900 per sq.ft (2024)
• St. Johnson Street: Rs 1,900 per sq.ft (2024)
• St. Andrews Street: Rs 2,200 per sq.ft (2024)
• Srinivasa Perumal Kovil Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Subramanium Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details on these charges.

Which Sub Registrar Office covers Subramanium Street?

The Subramanium Street is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For further assistance, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Erukancherry. It serves as the minimum value for property transactions, ensuring that the property is registered at a fair value in accordance with the prevailing rates in the area.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price of the property.

Frequently asked questions

What is the current guideline value of Subramanium Street?

The current guideline value of Subramanium Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Subramanium Street has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Subramanium Street?

Subramanium Street falls under the Residential Class IV Type - I land classification.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 1,98,000.