Guideline Value for SUBBARAYAN CHETTY STREET

Subbarayan Chetty Street guideline value

The current guideline value of Subbarayan Chetty Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Subbarayan Chetty Street has changed

The guideline value for Subbarayan Chetty Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,100 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a 309% rise. However, this was followed by a decrease to Rs 3,015 per sq.ft in 2017, a drop of 33%. The value then rose again to Rs 4,500 per sq.ft in 2023, and most recently, it increased to Rs 4,900 per sq.ft in 2024, reflecting a 9% change from the previous year.

It is important to note that the register has no figure for Subbarayan Chetty Street 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 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 Street's current guideline value is below this median.

• Subbarayan Chetty Main Road: Rs 4,900 per sq.ft (2024)
• Subbarayan Chetty 9th 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, 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 calculate your specific stamp duty and registration fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subbarayan Chetty Street?

The Sub Registrar Office that covers Subbarayan Chetty Street 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 plays a crucial role during the registration of property transactions in Purasaivakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When a property is sold, the guideline value is considered to ensure that the transaction is registered at a value that reflects the current market conditions. This helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Subbarayan Chetty Street?

The current guideline value of Subbarayan Chetty 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 changed from Rs 1,100 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 345% over the years.

What is the land classification for Subbarayan Chetty Street?

The land classification for Subbarayan Chetty Street is Residential Class III Type - II.

Where can I find the registration office for Subbarayan Chetty Street?

The registration office for Subbarayan Chetty Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Subbarayan Chetty Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a total stamp duty of Rs 3,43,000.