Guideline Value for Subash Chandrabose Street

Subash Chandrabose Street guideline value

The current guideline value of Subash Chandrabose Street is Rs 150 per sq.ft, effective from 1 July 2024. This street is located in Nemili village, under the jurisdiction of the Sriperumpudur SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Subash Chandrabose Street has changed

The guideline value for Subash Chandrabose Street has seen several revisions over the years. The 2012 revision set the value at Rs 150 per sq.ft, which remained unchanged until the 2023 revision, where it also stood at Rs 150 per sq.ft. The next revision in 2024 maintained the same value of Rs 150 per sq.ft, indicating no change from the previous year.

Looking further back, the 2017 revision recorded a guideline value of Rs 100 per sq.ft, reflecting a 50% increase by 2023. Prior to that, the 2012 revision had set the value at Rs 150 per sq.ft, which was a 33% decrease from the 2017 figure. Overall, from 2012 to 2024, the guideline value has remained at Rs 150 per sq.ft.

Guideline values in Nemili

In Nemili village, there are 66 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,000 per sq.ft, with a median value of Rs 250 per sq.ft. Subash Chandrabose Street's 2024 figure is below this median.

• Sri Ram Nagar Extn: Rs 300 per sq.ft (2024)
• Sri Ram Nagar: Rs 400 per sq.ft (2024)
• Theru Veedhiyamman Koil Street: Rs 150 per sq.ft (2024)
• Srinivasa Nagar: Rs 210 per sq.ft (2024)
• Sri Karpaga Vinayaga Nagar Part-1: Rs 1,000 per sq.ft (2024)
• Sri Kamatchi Nagar: Rs 210 per sq.ft (2024)

Stamp duty and registration fee for property in Subash Chandrabose Street

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value would be Rs 1,50,000. The stamp duty at 7% would amount to Rs 10,500, and the registration fee at 2% would be Rs 3,000, making the total charges Rs 13,500. 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 for precise calculations.

Which Sub Registrar Office covers Subash Chandrabose Street?

The Sub Registrar Office that covers Subash Chandrabose Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Nemili. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. The buyer and seller must consider this value to ensure compliance with legal requirements.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both parties are aware of the financial obligations involved in the transaction. This process helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Subash Chandrabose Street?

The current guideline value of Subash Chandrabose Street is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft from 2012 to 2024, with a significant increase from Rs 100 per sq.ft in 2017 to Rs 150 per sq.ft in 2023.

What are the other streets in Nemili and their guideline values?

Other streets in Nemili include Sri Ram Nagar Extn at Rs 300 per sq.ft, Sri Ram Nagar at Rs 400 per sq.ft, and Sri Karpaga Vinayaga Nagar Part-1 at Rs 1,000 per sq.ft, among others.

What are the fees for registering a property in Subash Chandrabose Street?

The fees for registering a property depend on the guideline value. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 13,500 in stamp duty and registration fees.

How is the guideline value determined for properties?

The guideline value is determined by the Registration Department's guideline value register, which considers various factors, including location and land classification.