Guideline Value for SUBBARAYAN STREET/SALAI

Subbarayan Street/Salai guideline value

The current guideline value of Subbarayan Street/Salai is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class IV Type - III.

How the guideline value of Subbarayan Street/Salai has changed

In the 2012 revision, the guideline value was set at Rs 6,500 per sq.ft. This figure decreased to Rs 4,355 per sq.ft in the 2017 revision, marking a reduction of 33%. However, from 2017 to 2024, the guideline value saw a significant increase of 63%, bringing it to the current rate of Rs 7,100 per sq.ft.

The register has no figures for Subbarayan Street/Salai for the years 2002, 2003, 2007, and 2023. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, which means Subbarayan Street/Salai's current figure is below that median.

• Subbaraya Avenue: Rs 13,200 per sq.ft (2024)
• Subramania Gurukkal Street: Rs 7,100 per sq.ft (2024)
• St.Mary's Lane: Rs 11,500 per sq.ft (2024)
• Sudhanthira Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Sudhanthira Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Sudhanthira Nagar 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Subbarayan Street/Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty, charged at 7%, would amount to Rs 4,97,000, while the registration fee, charged at 2%, would be Rs 1,42,000. Together, the total cost for these fees would be Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Subbarayan Street/Salai?

The Sub Registrar Office that covers Subbarayan Street/Salai is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Mylapore. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value is referenced to ensure compliance with local regulations. Buyers should be aware that the registration fees are calculated based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Subbarayan Street/Salai?

The current guideline value of Subbarayan Street/Salai is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 6,500 per sq.ft in 2012 to Rs 4,355 per sq.ft in 2017, and then increased to Rs 7,100 per sq.ft in 2024.

What is the land classification for Subbarayan Street/Salai?

Subbarayan Street/Salai is classified as Residential Class IV Type - III.

What are the stamp duty and registration fees for property in Subbarayan Street/Salai?

For a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 71,00,000, with stamp duty at Rs 4,97,000 and registration fee at Rs 1,42,000, totaling Rs 6,39,000.

Which office handles registrations for Subbarayan Street/Salai?

The Mylapore Sub Registrar Office handles registrations for Subbarayan Street/Salai, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.