Guideline Value for Mint Subbayarayalu Street

Mint Subbayarayalu Street guideline value

The current guideline value of Mint Subbayarayalu Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Mint Subbayarayalu Street has changed

The guideline value for Mint Subbayarayalu Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, a significant increase from Rs 1,340 per sq.ft in the 2017 revision. Between 2017 and 2024, this reflects a change of +64%. Prior to 2017, the 2012 revision recorded a value of Rs 2,000 per sq.ft, marking a decrease of -33% from the previous 2007 revision of Rs 1,100 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by +100%.

It is important to note that the register has no figures for the years 2023, 2003, and 2002 for this street. The 2007 revision saw a substantial increase of +82% from the 2002 figures, which are not available. The fluctuations in these values highlight the changing landscape of property in this area.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value is Rs 1,600 per sq.ft, placing Mint Subbayarayalu Street's 2024 figure above this median.

• M.G.R. Street: Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 9th Street: Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 8th Street: Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 7th Street: Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 6th Street: Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 5th Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mint Subbayarayalu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mint Subbayarayalu Street?

The Mint Subbayarayalu Street is covered by the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government collects appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it influences the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Mint Subbayarayalu Street?

The current guideline value of Mint Subbayarayalu Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +100% over the years.

What is the land classification for Mint Subbayarayalu Street?

Mint Subbayarayalu Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Royapuram Sub Registrar Office?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What should I know about stamp duty and registration fees?

Stamp duty is charged at 7%, and the registration fee is charged at 2% on the guideline value or the sale price, whichever is higher. It is advisable to use the stamp duty and registration fee calculator for accurate estimates.