Guideline Value for Subramaniyapuram Main Road

Subramaniyapuram Main Road guideline value

The current guideline value of Subramaniyapuram Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Subramaniyapuram Main Road has changed

The guideline value for Subramaniyapuram Main Road has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, it dropped to Rs 2,010 per sq.ft in 2017. The value then rose to Rs 3,000 per sq.ft in 2023 and is now set at Rs 3,300 per sq.ft in 2024. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a 49% increase in the guideline value, while the jump from 2023 to 2024 is 10%. Notably, the value rose by 329% from 2007 to 2012, and overall, from 2007 to 2024, the increase is 371%.

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. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Subramaniyapuram Main Road.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. 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 Subramaniyapuram Main Road?

The Sub Registrar Office that covers Subramaniyapuram Main Road 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 when registering property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are calculated based on this value.

When buying or selling property, it is essential to be aware of the guideline value as it affects the total cost involved in the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Subramaniyapuram Main Road?

The current guideline value of Subramaniyapuram Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, with an increase of 371% from 2007 to 2024. The most recent revision from 2023 to 2024 saw a 10% increase.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles registrations for properties in the Kolathur area.

What are the stamp duty rates for properties in Kolathur?

The stamp duty for properties in Kolathur is generally set at 7% of the guideline value or sale price, whichever is higher. Registration fees are typically 2% of the guideline value.

What is the land classification for Subramaniyapuram Main Road?

Subramaniyapuram Main Road is classified as Residential Class I Type - I, which indicates its suitability for residential development.