Guideline Value for Subbaraya Gramani street

Subbaraya Gramani street guideline value

The current guideline value of Subbaraya Gramani street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and is classified as Residential Class II Type - I.

How the guideline value of Subbaraya Gramani street has changed

Subbaraya Gramani street has seen several revisions in its guideline value over the years. In 2002, the guideline value was Rs 1,200 per sq.ft, which increased to Rs 1,323 per sq.ft in 2003, marking a 10% rise. The value then rose significantly to Rs 1,800 per sq.ft in 2007, reflecting a 36% increase. The next revision in 2012 saw the value drop to Rs 6,500 per sq.ft, a decrease of 261% from the previous figure. However, the value rebounded to Rs 4,355 per sq.ft in 2017, showing a 49% increase. The guideline value remained at Rs 6,500 per sq.ft in 2023 before reaching the current rate of Rs 7,100 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 492%. There are no revisions with figures missing for this street in the register.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, which is equal to the current guideline value of Subbaraya Gramani street.

• Subbarayan 2nd lane: Rs 7,100 per sq.ft (2024)
• Subbarayan 3rd lane: Rs 7,100 per sq.ft (2024)
• Subbarayan ist lane: Rs 7,100 per sq.ft (2024)
• Subbarayan Mudali street: Rs 6,300 per sq.ft (2024)
• Stanley Nagar: Rs 2,800 per sq.ft (2024)
• Sulaiman Zachiariya street: Rs 8,300 per sq.ft (2024)

Stamp duty and registration fee for property in Subbaraya Gramani street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total cost to Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Subbaraya Gramani street?

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

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

The guideline value is a crucial factor in the registration process when buying or selling property in Egmore. It determines the minimum value at which the property can be registered and is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Subbaraya Gramani street?

The current guideline value of Subbaraya Gramani street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,200 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 492%.

What is the classification of Subbaraya Gramani street?

Subbaraya Gramani street is classified as Residential Class II Type - I.

Where can I find the registration office for this street?

The registration office for Subbaraya Gramani street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 at a rate of 7%.