Guideline Value for Subasri Nagar 5th Street

Subasri Nagar 5th Street guideline value

The current guideline value of Subasri Nagar 5th Street is Rs 3,960 per sq.ft, effective from 1 July 2024. This street is located in Porur village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Subasri Nagar 5th Street has changed

Over the years, the guideline value of Subasri Nagar 5th Street has undergone several revisions. The 2012 revision set the value at Rs 3,600 per sq.ft, which was followed by a decrease to Rs 2,412 per sq.ft in the 2017 revision. However, the subsequent revisions saw a significant increase, with the 2023 revision bringing it back up to Rs 3,600 per sq.ft, and the latest 2024 revision increasing it further to Rs 3,960 per sq.ft, marking a 10% rise from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. In contrast, the 2012 to 2017 period saw a decrease of 33%. Overall, the guideline value has increased by 10% from the 2012 revision to the current 2024 figure. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median guideline value for these streets is Rs 3,960 per sq.ft, which is equal to the guideline value of Subasri Nagar 5th Street.

• Subasri Nagar 4th Street: Rs 3,960 per sq.ft (2024)
• Subasri Nagar 6th Street: Rs 3,960 per sq.ft (2024)
• Subasri Nagar 3rd Street: Rs 3,960 per sq.ft (2024)
• Subasri Nagar 7th Street: Rs 3,960 per sq.ft (2024)
• Subasri Nagar 2nd Street: Rs 3,960 per sq.ft (2024)
• Subasri Nagar 8th Street: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Subasri Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value would be Rs 39,60,000. The stamp duty at 7% would amount to Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total to Rs 3,56,400. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subasri Nagar 5th Street?

The Sub Registrar Office that covers Subasri Nagar 5th Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Porur. It is used to determine the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees. Buyers and sellers must consider this value when negotiating sale prices, as it can influence the overall transaction costs.

When a property is sold, the guideline value serves as a benchmark for calculating taxes and fees. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Subasri Nagar 5th Street?

The current guideline value of Subasri Nagar 5th Street is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the 2012 revision at Rs 3,600 per sq.ft, decreasing to Rs 2,412 per sq.ft in 2017, and then increasing to Rs 3,600 per sq.ft in 2023, followed by Rs 3,960 per sq.ft in 2024.

What are the other streets in Porur with the same guideline value?

Other streets in Porur that share the same guideline value of Rs 3,960 per sq.ft include Subasri Nagar 4th Street, 6th Street, 3rd Street, 7th Street, 2nd Street, and 8th Street.

What is the registration office for Subasri Nagar 5th Street?

The registration office for Subasri Nagar 5th Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Subasri Nagar 5th Street?

Stamp duty for properties in Subasri Nagar 5th Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,77,200.