Guideline Value for Subramaniya Samy Nagar 3rd Street & Cross street

Subramaniya Samy Nagar 3rd Street & Cross street guideline value

The current guideline value for Subramaniya Samy Nagar 3rd 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 is classified as Residential Class II Type - I.

How the guideline value of Subramaniya Samy Nagar 3rd Street & Cross street has changed

The guideline value for Subramaniya Samy Nagar 3rd Street & Cross street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was then reduced to Rs 2,345 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2024, the value increased by 64%, bringing it to the current rate of Rs 3,850 per sq.ft.

There are no figures available for the revisions in 2002, 2003, 2007, and 2023 for this street. Overall, comparing the 2012 figure to the current 2024 figure, there has been a 10% increase.

Guideline values in Valasaravakkam

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

• Subramaniya Samy Nagar 2nd Street & Cross 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 1st Street & Cross Street: Rs 3,850 per sq.ft (2024)
• Subramaniya Samy Nagar 5th 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 6th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Subramaniya Samy Nagar 3rd 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 would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total fees Rs 3,46,500. Duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Subramaniya Samy Nagar 3rd Street & Cross street?

The Subramaniya Samy Nagar 3rd Street & Cross street falls under the Virugambakkam Sub Registrar Office. The office is 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 is an essential factor when registering property transactions in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of a property.

When buyers or sellers engage in a transaction, the guideline value ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the local authorities.

Frequently asked questions

What is the current guideline value for Subramaniya Samy Nagar 3rd Street & Cross street?

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

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has changed from Rs 3,500 per sq.ft to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,850 per sq.ft in 2024. Overall, from 2012 to 2024, there has been a 10% increase.

Which SRO covers Subramaniya Samy Nagar 3rd Street & Cross street?

The Virugambakkam Sub Registrar Office covers Subramaniya Samy Nagar 3rd Street & Cross street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 38,50,000, the total fees would be Rs 3,46,500.

How many streets in Valasaravakkam have a guideline value listed?

There are 774 streets in Valasaravakkam under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 8,800 per sq.ft.