Guideline Value for SUBASH CHANDRA BOSE STREET

Subash Chandra Bose Street guideline value

The current guideline value of Subash Chandra Bose Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Chemmancheri village and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Subash Chandra Bose Street has changed

The guideline value for Subash Chandra Bose Street has seen significant changes over the years. The 2003 revision recorded a guideline value of Rs 115 per sq.ft. This increased to Rs 300 per sq.ft in 2007, marking a substantial rise of 161%. Following this, the value jumped to Rs 2,500 per sq.ft in 2012, reflecting an increase of 733%. However, the 2017 revision saw a decrease to Rs 1,675 per sq.ft, which was a drop of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, showing a 49% increase. The latest revision in 2024 set the guideline value at Rs 2,800 per sq.ft, which is a 12% increase from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value of Subash Chandra Bose Street is above this median.

• S.R.P.Nagar: Rs 1,700 per sq.ft (2024)
• Sundaram Garden I: Rs 1,100 per sq.ft (2024)
• Sundaram Garden - II: Rs 3,300 per sq.ft (2024)
• Sundaram Garden III: Rs 3,300 per sq.ft (2024)
• Sundar Garden: Rs 1,000 per sq.ft (2024)
• Tamilnadu Housing Board & Sunami Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Subash Chandra Bose Street

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000. Together, the total cost for these fees would be Rs 2,52,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subash Chandra Bose Street?

The Subash Chandra Bose Street is covered by the Neelankarai Sub Registrar Office, 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 Chemmancheri

The guideline value plays a crucial role during the registration of property transactions in Chemmancheri. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When selling a property, the guideline value ensures that the transaction is recorded at a fair value as per government regulations. This helps maintain transparency in property dealings and ensures that the state receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Subash Chandra Bose Street?

The current guideline value of Subash Chandra Bose Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 115 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, reflecting various increases and decreases across the years.

What is the median guideline value in Chemmancheri?

The median guideline value in Chemmancheri is Rs 1,700 per sq.ft, with Subash Chandra Bose Street's value being above this median.

What are the stamp duty rates for properties in Subash Chandra Bose Street?

The stamp duty for properties in Subash Chandra Bose Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Neelankarai Sub Registrar Office?

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