Guideline Value for Subramaniya Samy Nagar 2nd Street & Cross street

Subramaniya Samy Nagar 2nd Street & Cross street guideline value

The current guideline value for Subramaniya Samy Nagar 2nd Street & Cross street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Subramaniya Samy Nagar 2nd Street & Cross street has changed

The guideline value for Subramaniya Samy Nagar 2nd Street & Cross street has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was followed by a decrease to Rs 2,345 per sq.ft in the 2017 revision. However, the most recent 2024 revision has increased the guideline value to Rs 3,850 per sq.ft, marking an increase of 64% from the 2017 figure and an overall increase of 10% from the 2012 figure.

It is important to note that there are no figures available for the years 2023, 2007, 2003, and 2002 in the register for this street. The changes between the revisions highlight a significant fluctuation, particularly the drop from 2012 to 2017, which was a decrease of 33%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with the 2024 guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, which is the same as the current guideline value for Subramaniya Samy Nagar 2nd Street & Cross street.

• Subramaniya Samy Nagar 1st Street & Cross Street: Rs 3,850 per sq.ft (2024)
• Subramaniya Samy Nagar 3rd Street & Cross street: Rs 3,850 per sq.ft (2024)
• Subramaniya Samy Nagar 14th Street: Rs 3,850 per sq.ft (2024)
• Subramaniya Samy Nagar 4th Street & Cross street: Rs 3,850 per sq.ft (2024)
• Subramaniya Samy Nagar 13th Street: Rs 3,850 per sq.ft (2024)
• Subramaniya Samy Nagar 5th Street & Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Subramaniya Samy Nagar 2nd Street & Cross street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, bringing the total fees to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Subramaniya Samy Nagar 2nd Street & Cross street?

The Sub Registrar Office that covers Subramaniya Samy Nagar 2nd Street & Cross street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is bought or sold, the guideline value is used to calculate the applicable 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, which ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Subramaniya Samy Nagar 2nd Street & Cross street?

The current guideline value for Subramaniya Samy Nagar 2nd Street & Cross street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, and then increased to Rs 3,850 per sq.ft in 2024. There are no figures available for the years 2023, 2007, 2003, and 2002.

What is the land classification for this street?

Subramaniya Samy Nagar 2nd Street & Cross street is classified under Residential Class II Type - I.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500. These fees are calculated based on the guideline value.

Where is the Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, and it covers Subramaniya Samy Nagar 2nd Street & Cross street.