Guideline Value for Subash Street

Subash Street guideline value

The current guideline value of Subash Street, located in Chitlapakkam village under the Tambaram Joint 1 SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - III land classification.

How the guideline value of Subash Street has changed

Looking at the revisions, the guideline value for Subash Street was Rs 1,500 per sq.ft in 2023, which increased to Rs 1,650 per sq.ft in 2024, marking a change of +10%. Prior to that, in 2017, the guideline value was Rs 1,005 per sq.ft. This indicates a significant increase of +49% from 2017 to 2023. The 2012 revision had a guideline value of Rs 1,500 per sq.ft, which decreased by -33% to Rs 1,005 per sq.ft in 2017. Overall, from 2012 to 2024, the guideline value has seen a slight increase of +10%.

The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the guideline value of Subash Street.

• Station Road: Rs 3,850 per sq.ft (2024)
• Station Border Road: Rs 1,650 per sq.ft (2024)
• State Bank Colony Ist Street: Rs 2,750 per sq.ft (2024)
• State Bank Colony 3rd Street: Rs 4,430 per sq.ft (2024)
• State Bank Colony 2nd Street: Rs 2,750 per sq.ft (2024)
• Sudha Avenue: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Subash Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, together totaling Rs 1,48,500. It's important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subash Street?

The Sub Registrar Office that covers Subash Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Chitlapakkam

The guideline value plays a crucial role during property registration in Chitlapakkam. It is used to determine the stamp duty and registration fees that must be paid when a property transaction occurs. The buyer and seller must ensure that the sale price is either equal to or higher than the guideline value to comply with registration requirements.

When a property is sold, the guideline value is referenced to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as assessed by the local authorities.

Frequently asked questions

What is the current guideline value of Subash Street?

The current guideline value of Subash Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the land classification of Subash Street?

Subash Street is classified under Residential Class I Type - III, indicating its use for residential purposes.

Where can I find the Sub Registrar Office for Subash Street?

The Sub Registrar Office for Subash Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a property valued at Rs 16,50,000, the total fees would be Rs 1,48,500.