Guideline Value for Subbaraya Chetty Street

Subbaraya Chetty Street guideline value

The current guideline value of Subbaraya Chetty Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Class I Type - I.

How the guideline value of Subbaraya Chetty Street has changed

The guideline value for Subbaraya Chetty Street has undergone several revisions over the years. In 2007, the guideline value was Rs 945 per sq.ft, which saw a significant increase to Rs 6,000 per sq.ft in 2012. This figure remained unchanged until the next revision in 2023, where it increased to Rs 6,000 per sq.ft. The latest revision in 2024 has raised the value to Rs 6,600 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 598%. Notably, there are no figures available in the register for the years 2002, 2003, and 2017 for this street.

Guideline values in Triplicane

In Triplicane village, there are 415 streets under the Triplicane SRO, with guideline values ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value is Rs 6,600 per sq.ft, which is the same as the current value for Subbaraya Chetty Street.

• Subbaraya Mudali Street: Rs 6,600 per sq.ft (2024)
• Subbarayan Street: Rs 6,600 per sq.ft (2024)
• Subedar Hussain Street: Rs 6,600 per sq.ft (2024)
• Subadral St: Rs 6,600 per sq.ft (2024)
• Subadral Lane: Rs 6,600 per sq.ft (2024)
• Subramania Chetty Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Subbaraya Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000, bringing the total fees together to Rs 5,94,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subbaraya Chetty Street?

The Sub Registrar Office that covers Subbaraya Chetty Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor when registering property transactions in Triplicane. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

When buying or selling property, the guideline value helps both parties understand the minimum value of the property for registration purposes. It is crucial to consider this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Subbaraya Chetty Street?

The current guideline value of Subbaraya Chetty Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 945 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 598% over the years.

What are the stamp duty and registration fees for property in this area?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 66,00,000, the total fees would amount to Rs 5,94,000.

Which office handles registrations for Subbaraya Chetty Street?

The Triplicane Sub Registrar Office handles registrations for Subbaraya Chetty Street, located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value for property transactions, which affects the calculation of stamp duty and registration fees during the registration process.