Guideline Value for Subramaniyapuram 3rd Street

Subramaniyapuram 3rd Street guideline value

The current guideline value of Subramaniyapuram 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Subramaniyapuram 3rd Street has changed

The guideline value for Subramaniyapuram 3rd Street has seen several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 700 per sq.ft. This figure increased significantly to Rs 2,500 per sq.ft in 2012, marking an increase of 257%. However, the value then decreased to Rs 1,675 per sq.ft in 2017, which was a decline of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, and subsequently to Rs 2,700 per sq.ft in 2024, reflecting an 8% increase from the previous year.

There are no recorded figures for the revisions in 2002 and 2003 for Subramaniyapuram 3rd Street. Overall, from 2007 to 2024, the guideline value has increased by 286%.

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 value of Rs 3,300 per sq.ft. The guideline value of Subramaniyapuram 3rd Street is below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to 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 more precise calculations.

Which Sub Registrar Office covers Subramaniyapuram 3rd Street?

The Sub Registrar Office that covers Subramaniyapuram 3rd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Subramaniyapuram 3rd Street?

The current guideline value of Subramaniyapuram 3rd Street 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 from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, showing an overall increase of 286% over the years.

What is the land classification for Subramaniyapuram 3rd Street?

The land classification for Subramaniyapuram 3rd Street is Residential Class II Type - I.

Which office handles registrations for properties in this area?

The Sembiam Sub Registrar Office handles registrations for properties in Subramaniyapuram 3rd Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Kolathur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate for stamp duty is 7%, while the registration fee is 2% of the guideline value or sale price.