Guideline Value for SUBBIAH STREET

Subbiah Street guideline value

The current guideline value of Subbiah Street is Rs 7,700 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 II Type - I.

How the guideline value of Subbiah Street has changed

Looking back at the revisions, the guideline value for Subbiah Street has seen significant changes over the years. The 2007 revision set the value at Rs 1,800 per sq.ft, which then increased to Rs 7,000 per sq.ft in 2012. However, from 2012 to 2017, the value decreased to Rs 4,690 per sq.ft. The subsequent revisions show a rise, with the 2023 figure at Rs 7,000 per sq.ft, and the current 2024 revision marking an increase to Rs 7,700 per sq.ft, reflecting a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The overall change from the 2007 revision to the 2024 revision is a substantial increase of 328%. It is important to note that the register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are a total of 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, positioning Subbiah Street's 2024 figure above this median.

• Subburayan Chetty All Streets: Rs 4,900 per sq.ft (2024)
• Subbarayan Chetty Street: Rs 4,900 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Subbiah Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, while the registration fee at 2% would be Rs 1,54,000. Together, the total cost for these fees would be Rs 6,93,000. 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 Subbiah Street?

The Sub Registrar Office that covers Subbiah Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Purasaivakkam. It serves as a reference point for determining the minimum value of a property for registration purposes, ensuring that the transaction is recorded at a fair value.

When you buy or sell property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid. This ensures transparency in property transactions and helps in maintaining a standard valuation across the region.

Frequently asked questions

What is the current guideline value of Subbiah Street?

The current guideline value of Subbiah Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,800 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, marking an overall increase of 328% over the years.

What are the stamp duty and registration fees for property in Subbiah Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Which Sub Registrar Office covers Subbiah Street?

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

What is the land classification for Subbiah Street?

The land classification for Subbiah Street is Residential Class II Type - I, which indicates the type of development permitted in this area.