Guideline Value for SUBBA REDDY STREET

Subba Reddy Street guideline value

The current guideline value of Subba Reddy Street, located in Mambalam village under the Thiyagaraya nagar SRO, is Rs 7,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - II land classification.

How the guideline value of Subba Reddy Street has changed

The guideline value for Subba Reddy Street has undergone several revisions over the years. In 2002, the guideline value was Rs 758 per sq.ft. It increased to Rs 841 per sq.ft in 2003, marking an increase of 11%. The value then saw a significant rise to Rs 1,500 per sq.ft in 2007, reflecting a 78% increase. Following this, the value surged to Rs 7,000 per sq.ft in 2012, which was a substantial increase of 367%. However, from 2012 to 2017, the value dropped to Rs 4,690 per sq.ft, a decrease of 33%. The value then rose again to Rs 7,000 per sq.ft in 2023, and most recently, it has increased to Rs 7,700 per sq.ft in 2024, representing a 10% rise.

There are no figures available for the years between the revisions listed. Overall, from 2002 to 2024, the guideline value for Subba Reddy Street has increased by 916%.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median guideline value is Rs 6,600 per sq.ft, placing Subba Reddy Street's 2024 figure above this median.

• Station View Road: Rs 8,300 per sq.ft (2024)
• Station Road: Rs 12,100 per sq.ft (2024)
• Srirampet: Rs 7,700 per sq.ft (2024)
• Thalayari Street: Rs 6,600 per sq.ft (2024)
• Thambiah Reddy Road: Rs 15,400 per sq.ft (2024)
• Srinivasan Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Subba Reddy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, while the registration fee at 2% would be Rs 1,54,000. Together, the total cost for stamp duty and registration fee would be 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subba Reddy Street?

The Sub Registrar Office that covers Subba Reddy Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Mambalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value is set by the Registration Department and is periodically revised to reflect changes in the market.

When a buyer or seller engages in a property transaction, they must refer to the current guideline value to calculate the applicable fees. This ensures that the transaction is compliant with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Subba Reddy Street?

The current guideline value of Subba Reddy 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 758 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 916% over the years.

What is the land classification of Subba Reddy Street?

Subba Reddy Street is classified as Residential Class I Type - II.

Where can I find the Thiyagaraya nagar Sub Registrar Office?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is the stamp duty calculated for property transactions?

The stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 at 7%.