Guideline Value for SUBBIAH NAGAR 3RD STREET

Subbiah Nagar 3rd Street guideline value

The current guideline value of Subbiah Nagar 3rd Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Iyyappanthangal village, under the Chennai South Joint I SRO, and is classified as Residential Class I Type - I.

How the guideline value of Subbiah Nagar 3rd Street has changed

The guideline value for Subbiah Nagar 3rd Street has undergone several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 300 per sq.ft. This figure saw a significant increase in 2012, rising to Rs 2,500 per sq.ft, marking a change of +733%. However, between 2012 and 2017, the value decreased to Rs 1,675 per sq.ft, reflecting a drop of -33%. In 2023, the value increased again to Rs 2,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,750 per sq.ft, showing a rise of +10%.

From 2017 to 2023, the guideline value increased by +49%. Overall, from 2007 to 2024, the guideline value has increased by +817%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Subbiah Nagar 3rd Street's 2024 figure above this median.

• Subbiah Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Subbiah Nagar Annex: Rs 2,750 per sq.ft (2024)
• Subbiah Nagar Cross Street: Rs 2,750 per sq.ft (2024)
• Subbiah Nagar Ist Street: Rs 2,750 per sq.ft (2024)
• Subbaiah Nagar: Rs 2,750 per sq.ft (2024)
• Subramani Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Subbiah Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost together to Rs 2,47,500. 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 to estimate your fees.

Which Sub Registrar Office covers Subbiah Nagar 3rd Street?

Subbiah Nagar 3rd Street falls under the jurisdiction of the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Iyyappanthangal, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it can impact the overall costs involved in the transaction. The guideline value serves as a benchmark for property valuation, influencing the financial aspects of property dealings in the area.

Frequently asked questions

What is the current guideline value of Subbiah Nagar 3rd Street?

The current guideline value of Subbiah Nagar 3rd Street is Rs 2,750 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 300 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, marking an overall increase of +817% over the years.

What other streets have the same guideline value as Subbiah Nagar 3rd Street?

Other streets in Iyyappanthangal that share the same guideline value of Rs 2,750 per sq.ft include Subbiah Nagar 2nd Street, Subbiah Nagar Annex, Subbiah Nagar Cross Street, Subbiah Nagar Ist Street, and Subbaiah Nagar.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 and a registration fee of Rs 55,000.

Which office handles the registration for Subbiah Nagar 3rd Street?

The Chennai South Joint I Sub Registrar Office is responsible for handling registrations for Subbiah Nagar 3rd Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.