Guideline Value for Subramaniyan Street (Salai)

Subramaniyan Street (Salai) guideline value

The current guideline value of Subramaniyan Street (Salai) is Rs 4,100 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 - I.

How the guideline value of Subramaniyan Street (Salai) has changed

The guideline value for Subramaniyan Street (Salai) has undergone several revisions over the years. The 2007 revision set the value at Rs 1,210 per sq.ft, which significantly increased to Rs 3,750 per sq.ft in both the 2012 and 2023 revisions. The latest revision in 2024 has raised the guideline value to Rs 4,100 per sq.ft, marking a 9% increase from the previous year.

From 2007 to 2012, the value increased by 210%, and there was no change from 2012 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 239%. The register has no figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, indicating that Subramaniyan Street's 2024 figure is below this median.

• 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 Siva Street(3rd Street): Rs 3,300 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 Subramaniyan Street (Salai)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value would be Rs 41,00,000. The stamp duty at 7% would amount to Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total to Rs 3,69,000. 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 detailed calculations.

Which Sub Registrar Office covers Subramaniyan Street (Salai)?

The Sub Registrar Office that covers Subramaniyan Street (Salai) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial 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 stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable stamp duty. This ensures that the transaction is recorded at a value that reflects the prevailing market conditions as set by the registration department.

Frequently asked questions

What is the current guideline value of Subramaniyan Street (Salai)?

The current guideline value of Subramaniyan Street (Salai) is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 1,210 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, representing an overall increase of 239%.

What is the land classification for Subramaniyan Street (Salai)?

Subramaniyan Street (Salai) is classified as Residential Class IV Type - I, indicating its suitability for residential development.

Where can I find the registration office for properties in this area?

The registration office for properties in Subramaniyan Street (Salai) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Kodambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 41,00,000 would incur a stamp duty of Rs 2,87,000 at 7%.