Guideline Value for Subramaniyam Road

Subramaniyam Road guideline value

The current guideline value of Subramaniyam Road is Rs 3,900 per sq.ft, effective from 1 July 2024. This road is located in Kottivakkam village under the Adayar SRO, classified as Residential Class II Type - I.

How the guideline value of Subramaniyam Road has changed

The guideline value for Subramaniyam Road has seen several revisions over the years. In 2002, the value was Rs 384 per sq.ft, which increased to Rs 457 per sq.ft in 2003. The following revisions showed significant increases, with the value rising to Rs 1,250 per sq.ft in 2007, and then to Rs 3,500 per sq.ft in 2012. However, there was a decrease to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,900 per sq.ft in 2024, marking an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 916%. The changes between the revisions indicate a fluctuating market, with the most notable increase occurring between 2007 and 2012, where the value surged by 180%.

Guideline values in Kottivakkam

Kottivakkam village has a total of 284 streets under the Adayar SRO, with the 2024 guideline values ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which is equal to the current value of Subramaniyam Road.

• Thamarai Keni Street: Rs 2,200 per sq.ft (2024)
• Sri Ram Avenue 5th Street: Rs 3,900 per sq.ft (2024)
• Sri Ram Avenue 4th Street: Rs 3,900 per sq.ft (2024)
• Sri Ram Avenue 3rd Street: Rs 3,900 per sq.ft (2024)
• Sri Ram Avenue 2nd Street: Rs 3,900 per sq.ft (2024)
• Sri Ram Avenue 1st Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Subramaniyam Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees together to Rs 3,51,000. 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 accurate calculations based on your property.

Which Sub Registrar Office covers Subramaniyam Road?

The Sub Registrar Office that covers Subramaniyam Road is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kottivakkam, as it determines the amount of stamp duty and registration fees that must be paid. When buying or selling a property, the guideline value is used to calculate these fees, ensuring that they are based on the official valuation of the property.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any surprises during the registration process. This value serves as a reference point for both parties in the transaction, ensuring transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Subramaniyam Road?

The current guideline value of Subramaniyam Road is Rs 3,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, from Rs 384 per sq.ft to Rs 3,900 per sq.ft in 2024, marking an overall increase of 916%.

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

Several other streets in Kottivakkam have a guideline value of Rs 3,900 per sq.ft, including Sri Ram Avenue 1st, 2nd, 3rd, 4th, and 5th Streets.

How is the stamp duty calculated for properties on Subramaniyam Road?

The stamp duty for properties on Subramaniyam Road is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 2,73,000 based on the current guideline value.

Where can I find the Sub Registrar Office for property registration?

The Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, covers Subramaniyam Road for property registration.