Guideline Value for Subban Street

Subban Street guideline value

The current guideline value of Subban Street in Chindadripet village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Periamet SRO and is classified as Residential Class III Type - I.

How the guideline value of Subban Street has changed

The guideline value for Subban Street has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 400% increase. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, representing a decline of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, a 49% increase from the previous revision. The most recent revision in 2024 brought the guideline value to Rs 3,300 per sq.ft, reflecting a 10% increase from 2023.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Chindadripet

In Chindadripet, there are 98 streets under the Periamet SRO that have a 2024 guideline value ranging from Rs 2,500 to Rs 18,100 per sq.ft, with the median value being Rs 3,300 per sq.ft. Subban Street's 2024 guideline value is equal to this median.

• Sunguwar Agraharam Street: Rs 5,500 per sq.ft (2024)
• Swami Naicken Street: Rs 6,600 per sq.ft (2024)
• Siyali amman Koil Street: Rs 2,600 per sq.ft (2024)
• Siyali Amman Koil lane: Rs 2,600 per sq.ft (2024)
• Thiyagaraja Stret(Varadarajapuram): Rs 2,500 per sq.ft (2024)
• Singanna Chetty Street 3rd lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Subban Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. 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 further calculations.

Which Sub Registrar Office covers Subban Street?

The Sub Registrar Office that covers Subban Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

When buying or selling property in Chindadripet, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the government and is used as a benchmark for property transactions, ensuring that the transaction is recorded at a fair value.

At the time of registration, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Subban Street?

The current guideline value of Subban Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 450% over the years.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles the registration for Subban Street?

The Periamet Sub Registrar Office handles the registration for Subban Street, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification for Subban Street?

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