Guideline Value for SUBBULAKSHMI STREET

Subbulakshmi Street guideline value

The current guideline value of Subbulakshmi Street in Arasankalani village is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur Sub Registrar Office (SRO) and is classified as Residential Class III Type - I.

How the guideline value of Subbulakshmi Street has changed

The guideline value for Subbulakshmi Street has seen several revisions over the years. Starting with the 2012 revision, the value was set at Rs 1,200 per sq.ft. In the 2017 revision, it decreased to Rs 804 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 1,200 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,300 per sq.ft, reflecting an 8% rise from the previous year.

It is important to note that there are no figures available for Subbulakshmi Street in the revisions from the years 2002, 2003, and 2007. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 8%.

Guideline values in Arasankalani

In Arasankalani, there are 85 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 4,750 per sq.ft. The median guideline value in this area is Rs 2,100 per sq.ft, placing Subbulakshmi Street's 2024 figure below that median.

• Sundar Nagar: Rs 1,900 per sq.ft (2024)
• Thazhambur Main Road: Rs 2,100 per sq.ft (2024)
• Thillaiyadi Valliammai Street: Rs 1,300 per sq.ft (2024)
• Sri Perumal Nagar: Rs 1,650 per sq.ft (2024)
• Thirupur Kumaran Street: Rs 1,300 per sq.ft (2024)
• Sri Karumariamman Koil Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Subbulakshmi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subbulakshmi Street?

The Sub Registrar Office that covers Subbulakshmi Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions within Arasankalani. It is used to determine the stamp duty and registration fees that must be paid when buying or selling a property. Buyers and sellers should be aware that the guideline value may differ from the actual sale price of the property.

When registering a property, the higher value between the guideline value and the sale price is taken into account for calculating the applicable fees. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Subbulakshmi Street?

The current guideline value of Subbulakshmi Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Subbulakshmi Street?

Subbulakshmi Street is classified as Residential Class III Type - I.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

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

Stamp duty is calculated based on the higher value between the guideline value and the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 91,000.