Guideline Value for Subasri Nagar 7th Street

Subasri Nagar 7th Street guideline value

The current guideline value of Subasri Nagar 7th Street is Rs 3,960 per sq.ft, effective from 1 July 2024. This street is located in Porur village, under the jurisdiction of the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Subasri Nagar 7th Street has changed

The guideline value for Subasri Nagar 7th Street has seen several revisions over the years. The earliest available figure is from 2012, which was Rs 3,600 per sq.ft. In 2017, the value decreased to Rs 2,412 per sq.ft, marking a decline of 33%. However, by 2023, it increased significantly to Rs 3,600 per sq.ft, and in the latest revision for 2024, it rose further to Rs 3,960 per sq.ft, reflecting a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The 2023 revision saw a 10% rise from the previous year, and the jump from 2017 to 2023 was a substantial 49%. The register has no figures 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 have a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value for these streets is Rs 3,960 per sq.ft, which is equal to the guideline value of Subasri Nagar 7th Street.

• Subasri Nagar 6th Street: Rs 3,960 per sq.ft (2024)
• Subasri Nagar 8th Street: Rs 3,960 per sq.ft (2024)
• Subasri Nagar 5th Street: Rs 3,960 per sq.ft (2024)
• Subasri Nagar 9th Street: Rs 3,960 per sq.ft (2024)
• Subasri Nagar 4th Street: Rs 3,960 per sq.ft (2024)
• Subasri Nagar Extn 1st Main Road: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Subasri Nagar 7th 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 be Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total charges to Rs 3,56,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subasri Nagar 7th Street?

The Sub Registrar Office that covers Subasri Nagar 7th 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 plays a crucial role when buying or selling property in Porur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Subasri Nagar 7th Street?

The current guideline value of Subasri Nagar 7th 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 from Rs 3,600 per sq.ft in 2023 to Rs 3,960 per sq.ft in 2024, a 10% increase. It was Rs 2,412 per sq.ft in 2017 and Rs 3,600 per sq.ft in 2012, showing significant fluctuations over the years.

What is the land classification of Subasri Nagar 7th Street?

Subasri Nagar 7th Street is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

What is the registration office for Subasri Nagar 7th Street?

The registration office for Subasri Nagar 7th 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 Porur?

Stamp duty for properties in Porur is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 39,60,000, the stamp duty would be Rs 2,77,200 at a rate of 7%.