Guideline Value for SUBBA NAIDU STREET

Subba Naidu Street guideline value

The current guideline value of Subba Naidu Street in Purasaivakkam village is Rs 7,700 per sq.ft, effective from 1 July 2024. This street falls under the Purasaivakkam Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Subba Naidu Street has changed

The guideline value of Subba Naidu Street has undergone several revisions over the years. In 2007, the value was Rs 2,800 per sq.ft, which increased significantly to Rs 7,000 per sq.ft in 2012. However, it saw a decrease to Rs 4,690 per sq.ft in 2017. Following this, the value rose to Rs 7,000 per sq.ft in 2023, and further increased to the current rate of Rs 7,700 per sq.ft in 2024. The revisions for the years 2002 and 2003 do not have figures available for this street.

From 2017 to 2023, the guideline value increased by 49%. The change from 2012 to 2017 was a decrease of 33%, while the increase from 2007 to 2012 was a substantial 150%. Overall, from 2007 to 2024, the guideline value has risen by 175%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value for these streets is Rs 5,500 per sq.ft, placing Subba Naidu Street's 2024 figure above this median.

• Subbarayan Chetty 1st Lane: Rs 4,900 per sq.ft (2024)
• Subbarayan Chetty 1st Street: Rs 4,900 per sq.ft (2024)
• Subbarayan Chetty 2nd Lane: Rs 4,900 per sq.ft (2024)
• Subbarayan Chetty 2nd Street: Rs 4,900 per sq.ft (2024)
• Subbarayan Chetty 2nd Street Lane: Rs 4,900 per sq.ft (2024)
• Subbarayan Chetty 3rd Lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Subba Naidu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, together totaling Rs 6,93,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subba Naidu Street?

Subba Naidu Street is covered by the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Purasaivakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded at a fair value as per government standards.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall costs involved in 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 Subba Naidu Street?

The current guideline value of Subba Naidu Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, with various revisions in between, including a significant increase of 175% overall from 2007 to 2024.

What is the median guideline value in Purasaivakkam?

The median guideline value for streets in Purasaivakkam is Rs 5,500 per sq.ft, which is lower than the current value of Subba Naidu Street.

What are the stamp duty and registration fees for properties in Subba Naidu Street?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Where is the Purasaivakkam Sub Registrar Office located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.