Guideline Value for SUBBARAYAN CHETTY 4TH STREET 1ST LANE

Subbarayan Chetty 4th Street 1st Lane guideline value

The current guideline value of Subbarayan Chetty 4th Street 1st Lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the jurisdiction of the Purasaivakkam SRO, and is classified as Residential Class III Type - II.

How the guideline value of Subbarayan Chetty 4th Street 1st Lane has changed

The guideline value for Subbarayan Chetty 4th Street 1st Lane has undergone several revisions over the years. The earliest recorded value was Rs 1,100 per sq.ft in 2007. This increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 309%. However, the value then decreased to Rs 3,015 per sq.ft in 2017, a decline of 33%. Following this, the value surged to Rs 4,500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 4,900 per sq.ft, representing a 9% increase from the previous year.

It is important to note that the guideline value register does not have 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 that have a guideline value for 2024, 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 4th Street 1st Lane's value below this median.

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

Stamp duty and registration fee for property in Subbarayan Chetty 4th Street 1st Lane

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 at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Subbarayan Chetty 4th Street 1st Lane?

The Sub Registrar Office that covers Subbarayan Chetty 4th Street 1st Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value of a property, ensuring that the registration fee and stamp duty are calculated based on a fair estimate of the property's worth.

When a property is bought or sold, the guideline value helps in establishing the legal value of the property for taxation purposes. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Subbarayan Chetty 4th Street 1st Lane?

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

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,100 per sq.ft to Rs 4,900 per sq.ft in 2024, marking an overall increase of 345%.

What are the stamp duty and registration fees for a property here?

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 office handles registrations for this street?

The Purasaivakkam Sub Registrar Office handles registrations for Subbarayan Chetty 4th Street 1st Lane, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

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 value of Subbarayan Chetty 4th Street 1st Lane.