Guideline Value for SUBBARAYAN CHETTY MAIN ROAD

Subbarayan Chetty Main Road guideline value

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

How the guideline value of Subbarayan Chetty Main Road has changed

The guideline value for Subbarayan Chetty Main Road 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, but then dropped to Rs 3,015 per sq.ft in 2017. The value rose again to Rs 4,500 per sq.ft in 2023, and the most recent revision in 2024 set the guideline value at Rs 4,900 per sq.ft. The changes between these revisions are notable, with a 309% increase from 2007 to 2012, followed by a 33% decrease from 2012 to 2017, and a 49% increase from 2017 to 2023, culminating in a 9% rise from 2023 to 2024.

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 that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft, with a median value of Rs 5,500 per sq.ft. Subbarayan Chetty Main Road's 2024 figure is below this median.

• Subbarayan Chetty 9th Street: Rs 4,900 per sq.ft (2024)
• Subbarayan Chetty Street: Rs 4,900 per sq.ft (2024)
• Subbarayan Chetty 8th Street: Rs 4,900 per sq.ft (2024)
• Subbarayan Chetty 7th Street: Rs 4,900 per sq.ft (2024)
• Subbarayan Chetty 7th Lane: Rs 4,900 per sq.ft (2024)
• Subbarayan Chetty 6th Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Subbarayan Chetty Main Road

For a 1,000 sq.ft plot at the current rate of Rs 4,900 per sq.ft, the 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, totaling 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 Main Road?

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

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

The guideline value is a crucial factor in the registration of property transactions in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the buying or selling process.

When a property is sold, the guideline value helps in establishing the minimum value for which the property can be registered. Buyers and sellers must be aware of this value to ensure compliance with local regulations and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Subbarayan Chetty Main Road?

The current guideline value of Subbarayan Chetty Main Road 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 significantly from Rs 1,100 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, with various increases and decreases in between.

What is the classification of land on Subbarayan Chetty Main Road?

Subbarayan Chetty Main Road is classified as Residential Class III Type - II.

Where can I find the Sub Registrar Office for this area?

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

How is stamp duty calculated for properties in this area?

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