Guideline Value for SUBBARAYAN CHETTY 6TH LANE

Subbarayan Chetty 6th Lane guideline value

The current guideline value of Subbarayan Chetty 6th Lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This lane is located in Purasaivakkam village under the Purasaivakkam SRO, classified as Residential Class III Type - II.

How the guideline value of Subbarayan Chetty 6th Lane has changed

The guideline value for Subbarayan Chetty 6th Lane has seen several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 1,100 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in 2012, marking a 309% rise. However, it then decreased to Rs 3,015 per sq.ft in 2017, a drop of 33%. Following that, the value surged to Rs 4,500 per sq.ft in 2023, which is a 49% increase from the previous revision. The most recent revision in 2024 has set the value at Rs 4,900 per sq.ft, representing a 9% increase from 2023.

The register has no figures for the years 2002 and 2003. 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 is Rs 5,500 per sq.ft, placing Subbarayan Chetty 6th Lane's value below this median.

• Subbarayan Chetty 5th Street: Rs 4,900 per sq.ft (2024)
• Subbarayan Chetty 6th Street: Rs 4,900 per sq.ft (2024)
• Subbarayan Chetty 5th Lane: Rs 4,900 per sq.ft (2024)
• Subbarayan Chetty 7th Lane: Rs 4,900 per sq.ft (2024)
• Subbarayan Chetty 4th Street 4th Lane: Rs 4,900 per sq.ft (2024)
• Subbarayan Chetty 7th Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Subbarayan Chetty 6th 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 be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, totaling 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 details.

Which Sub Registrar Office covers Subbarayan Chetty 6th Lane?

The Sub Registrar Office that covers Subbarayan Chetty 6th 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 an essential factor in the registration process when buying or selling property in Purasaivakkam. It determines the stamp duty and registration fees that must be paid, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value acts as a benchmark for calculating the fees. Buyers should be aware that the higher of the guideline value and the sale price will be used to determine the applicable duties.

Frequently asked questions

What is the current guideline value of Subbarayan Chetty 6th Lane?

The current guideline value of Subbarayan Chetty 6th 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 over the years.

What is the land classification for Subbarayan Chetty 6th Lane?

Subbarayan Chetty 6th Lane is classified as Residential Class III Type - II.

Where can I find the Purasaivakkam Sub Registrar Office?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Subbarayan Chetty 6th Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 49,00,000 would incur a stamp duty of Rs 3,43,000.