Guideline Value for SUBBARAYA AVENUE

Subbaraya Avenue guideline value

The current guideline value of Subbaraya Avenue is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class II Type - I.

How the guideline value of Subbaraya Avenue has changed

The guideline value for Subbaraya Avenue has undergone several revisions over the years. In 2002, the value was Rs 1,044 per sq.ft, which saw a significant increase to Rs 1,805 per sq.ft in 2003, marking a rise of 73%. The value continued to grow, reaching Rs 1,950 per sq.ft in 2007, an increase of 8%. The next revision in 2012 saw a substantial jump to Rs 12,000 per sq.ft, reflecting a remarkable increase of 515%. However, in 2017, the value dropped to Rs 8,040 per sq.ft, a decrease of 33%. The guideline value then rose again to Rs 12,000 per sq.ft in 2023, and finally, it increased by 10% to the current value of Rs 13,200 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 1164%. There are no figures available for the years not listed in the register for this street.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with guideline values for 2024 ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, placing Subbaraya Avenue's 2024 figure above the median.

• Subbarayan Street/Salai: Rs 7,100 per sq.ft (2024)
• Subramania Gurukkal Street: Rs 7,100 per sq.ft (2024)
• St.Mary's Lane: Rs 11,500 per sq.ft (2024)
• Sudhanthira Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Sudhanthira Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Sudhanthira Nagar 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Subbaraya Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value would be Rs 1,32,00,000. The stamp duty at 7% would amount to Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total to Rs 11,88,000. 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 Subbaraya Avenue?

The Sub Registrar Office that covers Subbaraya Avenue is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Mylapore. It is used to determine the stamp duty and registration fees payable during the sale or purchase of property. Buyers and sellers must be aware that the guideline value is the basis for calculating these fees, ensuring compliance with local regulations.

When registering a property, the guideline value is compared with the sale price. The higher amount is used to calculate the applicable stamp duty and registration fees, which are mandatory for legal property transactions. Understanding the guideline value is essential for accurate financial planning in real estate dealings.

Frequently asked questions

What is the current guideline value of Subbaraya Avenue?

The current guideline value of Subbaraya Avenue is Rs 13,200 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 1,044 per sq.ft in 2002 to Rs 13,200 per sq.ft in 2024, reflecting an overall increase of 1164% over the years.

What are the stamp duty and registration fees for property in Subbaraya Avenue?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 9,24,000 and the registration fee would be Rs 2,64,000, totaling Rs 11,88,000.

Which office handles property registrations in Mylapore?

The Mylapore Sub Registrar Office handles property registrations for Subbaraya Avenue and is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is the guideline value determined in Mylapore?

The guideline value in Mylapore is determined by the Registration Department's guideline value register, which is revised periodically to reflect changes in property values across various streets in the area.