Guideline Value for Subramaniyam Nagar

Subramaniyam Nagar guideline value

The current guideline value of Subramaniyam Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Subramaniyam Nagar has changed

The guideline value for Subramaniyam Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 267 per sq.ft, which increased to Rs 290 per sq.ft in 2003. Following this, the value rose to Rs 700 per sq.ft in 2007, and then surged to Rs 2,500 per sq.ft in 2012. However, it dropped to Rs 1,675 per sq.ft in 2017. The most recent revision in 2024 has set the guideline value at Rs 2,700 per sq.ft, marking a 61% increase from the 2017 figure.

From 2002 to 2024, the overall increase in guideline value is 911%. Notably, the value jumped by 257% from 2007 to 2012 and by 141% from 2003 to 2007. The register has no figure for the year 2023 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median of Rs 3,300 per sq.ft. The guideline value of Subramaniyam Nagar is below this median.

• Subramaniyapuram 1st Street: Rs 2,700 per sq.ft (2024)
• Subramaniyapuram 2nd Street: Rs 2,700 per sq.ft (2024)
• Subramaniyapuram 3rd Street: Rs 2,700 per sq.ft (2024)
• Subramaniyapuram Main Road: Rs 3,300 per sq.ft (2024)
• Subburaja Appartment: Rs 2,700 per sq.ft (2024)
• Sundaram Nagar 1st Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Subramaniyam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Subramaniyam Nagar?

The Sub Registrar Office that covers Subramaniyam Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Kolathur. It serves as a reference point for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized valuation.

When buying or selling property, the guideline value helps determine the official value of the property for registration purposes. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Subramaniyam Nagar?

The current guideline value of Subramaniyam Nagar is Rs 2,700 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 267 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 911% over this period.

What are the stamp duty rates for property in Subramaniyam Nagar?

The stamp duty for property in Subramaniyam Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Which office handles property registration in Subramaniyam Nagar?

The Sembiam Sub Registrar Office handles property registration for Subramaniyam Nagar, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification of Subramaniyam Nagar?

Subramaniyam Nagar is classified as Residential Class II Type - I, indicating its designation for residential use within the area.