Guideline Value for Subramaniya Samy Nagar

Subramaniya Samy Nagar guideline value

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

How the guideline value of Subramaniya Samy Nagar has changed

The guideline value for Subramaniya Samy Nagar has seen significant changes over the years. In 2002, the value was Rs 394 per sq.ft, which increased to Rs 429 per sq.ft in 2003, marking a 9% rise. Following this, the value continued to rise to Rs 500 per sq.ft in 2007, reflecting a 17% increase. The most notable jump occurred between 2007 and 2012, where the value surged to Rs 3,500 per sq.ft, a remarkable increase of 600%. However, this was followed by a decrease to Rs 2,345 per sq.ft in 2017, a decline of 33%.

From 2017 to the current revision in 2024, the guideline value increased by 64%, reaching Rs 3,850 per sq.ft. Overall, from 2002 to 2024, the guideline value has increased by 877%. It is important to note that there are no figures available for the year 2023 for this street in the register.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value 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 guideline value for Subramaniya Samy Nagar. Below are other streets in Valasaravakkam with their respective guideline values:

• Subramaniya Samy Nagar 10th Street: Rs 3,850 per sq.ft (2024)
• Subramaniya Samy Nagar 11th Street: Rs 3,850 per sq.ft (2024)
• Subramaniya Samy Nagar 12th Street: Rs 3,850 per sq.ft (2024)
• Subramaniya Samy Nagar 13th Street: Rs 3,850 per sq.ft (2024)
• Subramaniya Samy Nagar 14th Street: Rs 3,850 per sq.ft (2024)
• Subramaniya Samy Nagar 1st Street & Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Subramaniya Samy Nagar

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, while the registration fee at 2% would be Rs 77,000. The total cost for these fees together would be Rs 3,46,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subramaniya Samy Nagar?

The Sub Registrar Office that covers Subramaniya Samy Nagar 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 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 government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can significantly impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value for Subramaniya Samy Nagar?

The current guideline value for Subramaniya Samy Nagar 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 significantly from Rs 394 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, with various increases and decreases noted in the revisions.

What is the registration office for Subramaniya Samy Nagar?

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

How is stamp duty calculated in Subramaniya Samy Nagar?

Stamp duty in Subramaniya Samy Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Registration fees are charged at 2% of the guideline value.

Are there other streets in Valasaravakkam with the same guideline value?

Yes, several other streets in Valasaravakkam have the same guideline value of Rs 3,850 per sq.ft, including Subramaniya Samy Nagar 10th, 11th, 12th, 13th, and 14th Streets, as well as the 1st Street & Cross Street.