Guideline Value for Subramaniyam Street

Subramaniyam Street guideline value

The current guideline value of Subramaniyam Street in Menambedu village under the Ambattur SRO is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Subramaniyam Street has changed

The guideline value for Subramaniyam Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. This decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase to Rs 1,200 per sq.ft in the 2023 revision, and then further rose to Rs 1,300 per sq.ft in the 2024 revision, reflecting an 8% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 concerning the guideline value of this street. Overall, from the 2012 revision to the current 2024 figure, there has been an increase of 8%.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft, with a median value of Rs 1,003 per sq.ft. The guideline value of Subramaniyam Street is above this median.

• Sundaram Street: Rs 1,700 per sq.ft (2024)
• Sundarrajan Street: Rs 1,700 per sq.ft (2024)
• Station Road: Rs 1,700 per sq.ft (2024)
• Sri Vinayagar Nagar: Rs 1,002 per sq.ft (2024)
• Sri sastha Nagar: Rs 1,002 per sq.ft (2024)
• Thangakulam: Rs 1,001 per sq.ft (2024)

Stamp duty and registration fee for property in Subramaniyam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subramaniyam Street?

The Sub Registrar Office that covers Subramaniyam Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Menambedu. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both parties are aware of the official value assigned to the property.

When a transaction occurs, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the government receives appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Subramaniyam Street?

The current guideline value of Subramaniyam Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What are the stamp duty and registration fees for property on Subramaniyam Street?

For a 1,000 sq.ft property, the total guideline value is Rs 13,00,000, resulting in a stamp duty of Rs 91,000 and a registration fee of Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office covers Subramaniyam Street?

The Ambattur Sub Registrar Office covers Subramaniyam Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions. It is compared to the sale price, and the duty is charged on the higher of the two values.