Guideline Value for Subasri Nagar 8th Street

Subasri Nagar 8th Street guideline value

The current guideline value of Subasri Nagar 8th Street is Rs 3,960 per sq.ft, effective from 1 July 2024. This street is located in Porur village and falls under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Subasri Nagar 8th Street has changed

The guideline value for Subasri Nagar 8th Street has undergone several revisions over the years. The earliest available figure is from 2012, which was Rs 3,600 per sq.ft. This value then decreased to Rs 2,412 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 3,600 per sq.ft. The most recent revision in 2024 set the value at Rs 3,960 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Porur

In Porur, there are a total of 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 value for these streets is Rs 3,960 per sq.ft, which is the same as the 2024 guideline value for Subasri Nagar 8th Street.

• Subasri Nagar 7th Street: Rs 3,960 per sq.ft (2024)
• Subasri Nagar 9th Street: Rs 3,960 per sq.ft (2024)
• Subasri Nagar 6th Street: Rs 3,960 per sq.ft (2024)
• Subasri Nagar Extn 1st Main Road: Rs 3,960 per sq.ft (2024)
• Subasri Nagar 5th Street: Rs 3,960 per sq.ft (2024)
• Subasri Nagar Extn 2nd Main Road: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Subasri Nagar 8th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value amounts to 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 duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Subasri Nagar 8th Street?

The Sub Registrar Office that covers Subasri Nagar 8th 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 in the registration process when buying or selling property in Porur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable fees. This value is critical for both parties to understand the financial implications of the transaction and ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Subasri Nagar 8th Street?

The current guideline value of Subasri Nagar 8th 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, marking a 10% increase. It was Rs 2,412 per sq.ft in 2017 and Rs 3,600 per sq.ft in 2012.

What is the land classification for Subasri Nagar 8th Street?

Subasri Nagar 8th Street is classified as Residential Special Type - I, indicating its intended use for residential purposes.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles registrations for properties in the area.

How is stamp duty calculated for properties in Subasri Nagar 8th Street?

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