Guideline Value for Subramaniya Samy Nagar 7th Street

Subramaniya Samy Nagar 7th Street guideline value

The current guideline value of Subramaniya Samy Nagar 7th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Subramaniya Samy Nagar 7th Street has changed

The guideline value for Subramaniya Samy Nagar 7th Street has seen several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 3,500 per sq.ft. From 2012 to 2024, there was an increase of 10%, bringing the current value to Rs 3,850 per sq.ft. The register does not have figures for the years 2002, 2003, 2007, 2017, and 2023 for this street.

In summary, the only available figures are from the 2012 and 2024 revisions, with the latter reflecting a significant increase from the previous value. The current guideline value aligns with the median figure for other streets in Valasaravakkam, which is also Rs 3,850 per sq.ft.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value is Rs 3,850 per sq.ft, which is the same as the guideline value for Subramaniya Samy Nagar 7th Street. Below are the guideline values for other streets in Valasaravakkam:

• Subramaniya Samy Nagar 6th Street: Rs 3,850 per sq.ft (2024)
• Subramaniya Samy Nagar 8th 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 9th 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 3rd Street & Cross street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Subramaniya Samy Nagar 7th 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, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Subramaniya Samy Nagar 7th Street?

The Sub Registrar Office that covers Subramaniya Samy Nagar 7th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Valasaravakkam. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers should be aware that the guideline value is set by the government and reflects the minimum value at which properties in the area are assessed.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions, regardless of the sale price.

Frequently asked questions

What is the current guideline value of Subramaniya Samy Nagar 7th Street?

The current guideline value of Subramaniya Samy Nagar 7th 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 3,850 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2003, 2007, 2017, and 2023 for this street.

What is the land classification of Subramaniya Samy Nagar 7th Street?

The land classification for Subramaniya Samy Nagar 7th Street is Residential Class II Type - I, indicating its suitability for residential development.

What is the stamp duty rate in Tamil Nadu?

The stamp duty rate in Tamil Nadu is 7% of the guideline value or the sale price, whichever is higher. This is applicable at the time of property registration.

Where can I find the Sub Registrar Office for Subramaniya Samy Nagar 7th Street?

The Sub Registrar Office for Subramaniya Samy Nagar 7th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.