Guideline Value for SUBBU STREET

Subbu Street guideline value

The current guideline value of Subbu Street in Thiruvanmiyur village is Rs 3,520 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class V Type - III.

How the guideline value of Subbu Street has changed

The guideline value for Subbu Street has seen several revisions over the years. In 2002, the value was Rs 627 per sq.ft, which increased to Rs 694 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,300 per sq.ft in 2007, marking an increase of 87%. The guideline value then saw a substantial jump to Rs 3,200 per sq.ft in 2012, reflecting a 146% increase. However, it decreased to Rs 2,144 per sq.ft in 2017, a decline of 33%. The value then increased to Rs 3,200 per sq.ft in 2023, before reaching the current figure of Rs 3,520 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 461%. There are no figures available for the revisions in years other than those mentioned.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that have a guideline value for 2024, ranging from Rs 3,520 to Rs 12,660 per sq.ft, with a median of Rs 9,900 per sq.ft. The guideline value for Subbu Street is below this median.

• Subramania Colony: Rs 11,000 per sq.ft (2024)
• Subramaniam Avenue: Rs 11,000 per sq.ft (2024)
• Tamilnadu Sum Clearance Board: Rs 3,520 per sq.ft (2024)
• Sri Ram Nagar Salai: Rs 9,900 per sq.ft (2024)
• Sriram Nagar Ist Street: Rs 9,900 per sq.ft (2024)
• Teachers Colony 1st Street: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Subbu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total cost together to Rs 3,16,800. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subbu Street?

The Sub Registrar Office that covers Subbu Street is 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, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value helps in assessing the minimum value at which the property can be registered. This ensures that the government receives the appropriate fees based on the property's value as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Subbu Street?

The current guideline value of Subbu Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 627 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, showing an overall increase of 461%.

What is the land classification of Subbu Street?

Subbu Street is classified as Residential Class V Type - III under the Chennai South Joint I SRO.

Where can I find the registration office for Subbu Street?

The registration office for Subbu Street is 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.

How is the stamp duty calculated for properties in Subbu Street?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 2,46,400.