Guideline Value for Subam Street 3rd Street

Subam Street 3rd Street guideline value

The current guideline value of Subam Street 3rd Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Subam Street 3rd Street has changed

Looking at the historical revisions, the guideline value for Subam Street 3rd Street was Rs 1,200 per sq.ft in 2012. It increased to Rs 1,500 per sq.ft in 2023, marking a 25% rise. The latest revision in 2024 has set the value at Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 33%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, which is equal to the 2024 figure for Subam Street 3rd Street.

• Subam Street 1st Street: Rs 1,600 per sq.ft (2024)
• Subam Street 2nd Street: Rs 1,600 per sq.ft (2024)
• Subam Street 4th Street: Rs 1,600 per sq.ft (2024)
• Subam Nagar (Ward-02): Rs 1,600 per sq.ft (2024)
• Subam Avenue (Ward-02): Rs 1,600 per sq.ft (2024)
• Subam Avenue 4th St (Ward 2): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Subam Street 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subam Street 3rd Street?

The Sub Registrar Office that covers Subam Street 3rd Street is located at Madhavaram Sub Registrar Office, No.7, Roja Nagar, Madhavaram, Chennai-600060, in the Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with government regulations.

When buying or selling property, the guideline value will influence the stamp duty and registration fees that need to be paid. This ensures that the transaction reflects the current market conditions as per the latest revisions in the guideline value register.

Frequently asked questions

What is the current guideline value of Subam Street 3rd Street?

The current guideline value of Subam Street 3rd Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen an increase from Rs 1,200 per sq.ft to Rs 1,600 per sq.ft in 2024, reflecting a total increase of 33% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which Sub Registrar Office should I visit for transactions in Subam Street 3rd Street?

The relevant Sub Registrar Office is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What classification does Subam Street 3rd Street fall under?

Subam Street 3rd Street is classified as Residential Class II Type - I, which indicates its designation for residential purposes within the Madhavaram village.