Guideline Value for V.V.S.SUBRAMANIAM ENCLAVE

V.V.S.Subramaniam Enclave guideline value

The current guideline value of V.V.S.Subramaniam Enclave is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in Uthandi village, under the Neelankarai SRO, and is classified as Residential Class I Type - I.

How the guideline value of V.V.S.Subramaniam Enclave has changed

The guideline value for V.V.S.Subramaniam Enclave has undergone several revisions over the years. In 2012, the value was set at Rs 3,000 per sq.ft. This figure was revised down to Rs 2,010 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, which is a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Uthandi

Uthandi village has a total of 197 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 14,700 per sq.ft in 2024. The median value across these streets is Rs 1,700 per sq.ft, placing V.V.S.Subramaniam Enclave's value above this median.

• V.V.Venkatasubramaniam Salai: Rs 2,200 per sq.ft (2024)
• V.V.S.Subramaniam Encalve Salai: Rs 3,300 per sq.ft (2024)
• V V V Garden: Rs 3,900 per sq.ft (2024)
• V.V. Salai: Rs 5,500 per sq.ft (2024)
• V.R.Salai: Rs 2,800 per sq.ft (2024)
• West Gangaiamman Koil Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in V.V.S.Subramaniam Enclave

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.V.S.Subramaniam Enclave?

The Neelankarai Sub Registrar Office covers V.V.S.Subramaniam Enclave. The office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Uthandi. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property sales.

When a property is registered, the higher value between the guideline value and the sale price is taken into account for calculating these fees. This means that buyers should be aware of the guideline value to estimate their total costs accurately.

Frequently asked questions

What is the current guideline value of V.V.S.Subramaniam Enclave?

The current guideline value of V.V.S.Subramaniam Enclave is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the median guideline value in Uthandi?

The median guideline value in Uthandi is Rs 1,700 per sq.ft, with V.V.S.Subramaniam Enclave's value being above this median.

What are the stamp duty rates for properties in V.V.S.Subramaniam Enclave?

The stamp duty rate for properties in V.V.S.Subramaniam Enclave is 7% of the guideline value or sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.