Guideline Value for SUBBARAYAN CHETTY 2ND STREET LANE

Subbarayan Chetty 2nd Street Lane guideline value

The current guideline value for Subbarayan Chetty 2nd Street Lane is Rs 4,900 per sq.ft, effective from 1 July 2024. 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 2nd Street Lane has changed

The guideline value for Subbarayan Chetty 2nd Street Lane has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 1,100 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in 2012, marking a 309% rise. However, the value dropped to Rs 3,015 per sq.ft in 2017, reflecting a decrease of 33%. The value then rose to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,900 per sq.ft as of the 2024 revision, which is a 9% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. 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, with guideline values 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, making the current guideline value of Subbarayan Chetty 2nd Street Lane below this median.

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

Stamp duty and registration fee for property in Subbarayan Chetty 2nd Street Lane

For a 1,000 sq.ft plot at the current guideline value, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees together to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subbarayan Chetty 2nd Street Lane?

The Sub Registrar Office that covers Subbarayan Chetty 2nd Street Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for additional information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value helps ensure that the fees collected are proportionate to the value of the property, thereby maintaining transparency in the real estate market.

Frequently asked questions

What is the current guideline value for Subbarayan Chetty 2nd Street Lane?

The current guideline value for Subbarayan Chetty 2nd Street Lane 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 changed from Rs 1,100 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, showing a significant increase of 345% over this period.

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.

Which Sub Registrar Office is responsible for this street?

The Purasaivakkam Sub Registrar Office covers Subbarayan Chetty 2nd Street Lane, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Subbarayan Chetty 2nd Street Lane?

Subbarayan Chetty 2nd Street Lane is classified as Residential Class III Type - II under the guideline value register.