Guideline Value for Subramaniya Siva Street(3rd Street)

Subramaniya Siva Street(3rd Street) guideline value

The current guideline value of Subramaniya Siva Street(3rd Street) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Subramaniya Siva Street(3rd Street) has changed

The guideline value for Subramaniya Siva Street(3rd Street) has seen several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 275% increase. However, it then decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 313%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Kodambakkam

Kodambakkam has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft as of 2024. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Subramaniya Siva Street(3rd Street) below this median value.

• Subramaniyan Street (Salai): Rs 4,100 per sq.ft (2024)
• Subramaniyan 8th Street Block 17: Rs 4,100 per sq.ft (2024)
• Subramaniya Mudali Street (Muthurangam Block): Rs 4,100 per sq.ft (2024)
• Subramaniyam (Street) Block 82, 93: Rs 4,100 per sq.ft (2024)
• Subramaniya Iyyer Street (Vivekanandapuran 2nd, 3rd Street): Rs 6,600 per sq.ft (2024)
• Subramania Samy Koil Street (Othavadai Street): Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Subramaniya Siva Street(3rd Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the 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 information on fees applicable to your property.

Which Sub Registrar Office covers Subramaniya Siva Street(3rd Street)?

The Sub Registrar Office that covers Subramaniya Siva Street(3rd 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 additional details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Subramaniya Siva Street(3rd Street)?

The current guideline value of Subramaniya Siva Street(3rd Street) is Rs 3,300 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 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 313%.

What are the stamp duty and registration fees for properties on this street?

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000, with stamp duty at Rs 2,31,000 and registration fees at Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers this street?

The Ashok Nagar Sub Registrar Office covers Subramaniya Siva Street(3rd Street), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Subramaniya Siva Street(3rd Street)?

The land classification for Subramaniya Siva Street(3rd Street) is Residential Class IV Type - II.