Guideline Value for Subramaniya Bharathi Street

Subramaniya Bharathi Street guideline value

The current guideline value of Subramaniya Bharathi Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village, under the jurisdiction of the Alandur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Subramaniya Bharathi Street has changed

The guideline value for Subramaniya Bharathi Street has seen several revisions over the years. In 2002, the value was Rs 287 per sq.ft, which increased to Rs 322 per sq.ft in 2003, marking a 12% rise. The value then surged significantly to Rs 1,000 per sq.ft in 2007, reflecting a 211% increase. Following this, in 2012, the value was Rs 2,000 per sq.ft, indicating a 100% increase from the previous revision. However, the value dropped to Rs 1,340 per sq.ft in 2017, showing a decrease of 33%. The subsequent revisions saw the value rise to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 667%. There are no figures available for the revisions in years not mentioned in the register.

Guideline values in Ullagaram

In Ullagaram village, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, placing Subramaniya Bharathi Street's 2024 value below this median.

• Thamos Nagar Cross Street: Rs 2,800 per sq.ft (2024)
• Thamos Nagar Main: Rs 3,900 per sq.ft (2024)
• Thangavel Avenue: Rs 2,800 per sq.ft (2024)
• Thangavel Street Extension: Rs 2,800 per sq.ft (2024)
• Sri Ragavendira Nagar: Rs 2,800 per sq.ft (2024)
• Thilagar Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Subramaniya Bharathi 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, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that 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 Subramaniya Bharathi Street?

The Sub Registrar Office that covers Subramaniya Bharathi Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Ullagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When a buyer or seller agrees on a sale price, the registration process will consider the guideline value to calculate applicable fees. If the sale price is lower than the guideline value, the higher amount will be used for calculating the stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Subramaniya Bharathi Street?

The current guideline value of Subramaniya Bharathi 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 has changed from Rs 287 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 667% over the years.

What are the other streets in Ullagaram with their guideline values?

Other streets in Ullagaram include Thamos Nagar Cross Street at Rs 2,800 per sq.ft, Thamos Nagar Main at Rs 3,900 per sq.ft, and Thangavel Avenue at Rs 2,800 per sq.ft, among others.

What is the stamp duty rate applicable in Subramaniya Bharathi Street?

The stamp duty rate applicable in Subramaniya Bharathi Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Subramaniya Bharathi Street?

The Sub Registrar Office for Subramaniya Bharathi Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.