Guideline Value for SUBBARAYAN CHETTY 1ST STREET

Subbarayan Chetty 1st Street guideline value

The current guideline value of Subbarayan Chetty 1st Street is Rs 4,900 per sq.ft. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - II.

How the guideline value of Subbarayan Chetty 1st Street has changed

The guideline value for Subbarayan Chetty 1st Street has undergone several revisions over the years. In 2007, the value was set at Rs 1,100 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, this figure dropped to Rs 3,015 per sq.ft in 2017. The value then rose to Rs 4,500 per sq.ft in 2023, and is currently at Rs 4,900 per sq.ft from the 2024 revision, effective from 1 July 2024.

Notably, the changes between revisions have varied. From 2007 to 2012, there was a remarkable increase of 309%. However, the value decreased by 33% from 2012 to 2017. The increase from 2017 to 2023 was 49%, followed by a 9% rise from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 345%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value in this area is Rs 5,500 per sq.ft, placing Subbarayan Chetty 1st Street's 2024 figure below that median.

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

Stamp duty and registration fee for property in Subbarayan Chetty 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty, charged at 7%, would amount to Rs 3,43,000, while the registration fee at 2% would be Rs 98,000. Together, the total cost for stamp duty and registration fee would be Rs 4,41,000. 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 information.

Which Sub Registrar Office covers Subbarayan Chetty 1st Street?

The Sub Registrar Office that covers Subbarayan Chetty 1st Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Purasaivakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in the public records.

When a property transaction occurs, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the state government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Subbarayan Chetty 1st Street?

The current guideline value of Subbarayan Chetty 1st Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, increasing from Rs 1,100 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 345% from 2007 to 2024.

What is the median guideline value in Purasaivakkam?

The median guideline value in Purasaivakkam is Rs 5,500 per sq.ft, which is higher than the current guideline value of Subbarayan Chetty 1st Street.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000 for stamp duty and registration fees.

Which office handles property registrations for Subbarayan Chetty 1st Street?

The Purasaivakkam Sub Registrar Office handles property registrations for Subbarayan Chetty 1st Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.