Guideline Value for Subramaniya Vaidiyar Street

Subramaniya Vaidiyar Street guideline value

The current guideline value of Subramaniya Vaidiyar Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Subramaniya Vaidiyar Street has changed

The guideline value for Subramaniya Vaidiyar Street has seen several revisions over the years. In 2007, the value was Rs 1,145 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 337%. However, from 2012 to 2017, the value decreased to Rs 3,350 per sq.ft, a drop of 33%. The value then rose to Rs 5,000 per sq.ft in 2023, representing a 49% increase. The most recent revision in 2024 set the guideline value at Rs 5,500 per sq.ft, an increase of 10% from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 380%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO, with guideline values ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value in this area is Rs 6,600 per sq.ft, which means that the 2024 guideline value of Subramaniya Vaidiyar Street is below this median.

• Subramania Mudali Street: Rs 5,500 per sq.ft (2024)
• Subramania Chetty Street: Rs 5,500 per sq.ft (2024)
• Sundaramurthy Vinayagar Koil Street: Rs 7,700 per sq.ft (2024)
• Subedar Hussain Street: Rs 6,600 per sq.ft (2024)
• Subbarayan Street: Rs 6,600 per sq.ft (2024)
• Subbaraya Mudali Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Subramaniya Vaidiyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees together to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subramaniya Vaidiyar Street?

The Subramaniya Vaidiyar Street is covered by the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Triplicane. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and fairly in the official registers.

In addition, the guideline value serves as a benchmark for property valuations in the area. Buyers and sellers can refer to these values to understand the financial implications of their transactions, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Subramaniya Vaidiyar Street?

The current guideline value of Subramaniya Vaidiyar Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 1,145 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, representing an overall increase of 380%.

What are the other streets in Triplicane with similar guideline values?

Other streets in Triplicane with the same guideline value of Rs 5,500 per sq.ft in 2024 include Subramania Mudali Street and Subramania Chetty Street.

What are the registration fees for properties in this area?

The registration fees are calculated based on the guideline value, which includes a stamp duty of 7% and a registration fee of 2% on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Subramaniya Vaidiyar Street is covered by the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.