Guideline Value for Subramaniya Iyyer Street(Vivekanandapuran 2nd, 3rd Street)

Subramaniya Iyyer Street(Vivekanandapuran 2nd, 3rd Street) guideline value

The current guideline value for Subramaniya Iyyer Street (Vivekanandapuran 2nd, 3rd Street) is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO, classified as Residential Class II Type - II.

How the guideline value of Subramaniya Iyyer Street(Vivekanandapuran 2nd, 3rd Street) has changed

Over the years, the guideline value for Subramaniya Iyyer Street has seen several revisions. In 2012, the guideline value was Rs 6,000 per sq.ft. This figure decreased to Rs 4,020 per sq.ft in 2017, marking a decline of 33%. Subsequently, the value increased to Rs 6,000 per sq.ft in 2023, and then further rose to Rs 6,600 per sq.ft in 2024, reflecting a 10% increase from the previous year. The revisions for 2002, 2003, and 2007 have no figures listed in the register for this street.

From 2017 to 2023, there was a significant increase of 49%, bringing the guideline value back up to Rs 6,000 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%, demonstrating fluctuations in property valuation over the years.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Subramaniya Iyyer Street above this median at Rs 6,600 per sq.ft.

• Subramaniyam (Street) Block 82, 93: Rs 4,100 per sq.ft (2024)
• Subramaniya Mudali Street (Muthurangam Block): Rs 4,100 per sq.ft (2024)
• Subramaniyan 8th Street Block 17: Rs 4,100 per sq.ft (2024)
• Subramaniyan Street (Salai): Rs 4,100 per sq.ft (2024)
• Subramania Samy Koil Street (Othavadai Street): Rs 4,100 per sq.ft (2024)
• Subramania Mudali Street (JPT): Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Subramaniya Iyyer Street(Vivekanandapuran 2nd, 3rd Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, making the total cost for these fees Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subramaniya Iyyer Street(Vivekanandapuran 2nd, 3rd Street)?

The Sub Registrar Office that covers Subramaniya Iyyer Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are calculated based on the official valuation of the property.

When a property transaction occurs, the guideline value helps to avoid discrepancies in pricing and ensures that the government receives the appropriate revenue from property transactions. Buyers and sellers should be aware of the guideline value for their specific property to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for Subramaniya Iyyer Street?

The current guideline value for Subramaniya Iyyer Street (Vivekanandapuran 2nd, 3rd Street) is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,000 per sq.ft in 2012 to Rs 4,020 per sq.ft in 2017, then increased to Rs 6,000 per sq.ft in 2023, and finally to Rs 6,600 per sq.ft in 2024.

What is the land classification for this street?

Subramaniya Iyyer Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

Where can I find the registration office for this area?

The registration office for Subramaniya Iyyer Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 at a rate of 7%.