Guideline Value for Subbaraya Nagar

Subbaraya Nagar guideline value

The current guideline value of Subbaraya Nagar, located in Baraniputjur village under the Kunrathur SRO, is Rs 1,210 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Subbaraya Nagar has changed

The guideline value for Subbaraya Nagar has undergone several revisions over the years. In 2007, the value was Rs 250 per sq.ft. This increased significantly to Rs 1,100 per sq.ft in 2012, marking a rise of 340%. However, in 2017, the value decreased to Rs 737 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 1,100 per sq.ft in 2023, followed by a further increase to Rs 1,210 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 384%. The revisions show a fluctuating pattern, with notable increases and a decrease in the years mentioned.

Guideline values in Baraniputjur

In Baraniputjur, there are 39 streets that carry a guideline value for 2024, ranging from Rs 700 to Rs 2,500 per sq.ft. The median guideline value is Rs 1,210 per sq.ft, which is equal to the current rate for Subbaraya Nagar.

• Sri Venkateswara Nagar: Rs 1,210 per sq.ft (2024)
• Sri Sangeetham Nagar: Rs 1,210 per sq.ft (2024)
• Surya Avenue Phase - I: Rs 1,870 per sq.ft (2024)
• Thamu Nagar: Rs 1,210 per sq.ft (2024)
• Sri Kamatchi Avenue: Rs 1,450 per sq.ft (2024)
• Theru veedhiyamman Koil Street: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Subbaraya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, while the registration fee at 2% would be Rs 24,200, bringing the total to Rs 1,08,900. 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 Nagar?

The Sub Registrar Office that covers Subbaraya Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, in the Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Baraniputjur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. This ensures that both the buyer and seller are aware of the official value assigned to the property.

When a property is sold, the guideline value helps in assessing the legal and financial implications of the sale. It is essential for both parties to consider this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Subbaraya Nagar?

The current guideline value of Subbaraya Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,210 per sq.ft in 2024, reflecting an overall increase of 384% over these years.

What are the other streets in Baraniputjur with similar guideline values?

Other streets in Baraniputjur with a guideline value of Rs 1,210 per sq.ft include Sri Venkateswara Nagar, Sri Sangeetham Nagar, Thamu Nagar, and Theru veedhiyamman Koil Street.

What is the stamp duty for property in Subbaraya Nagar?

The stamp duty for property in Subbaraya Nagar is 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 12,10,000, the stamp duty would be Rs 84,700.

Where can I find the Sub Registrar Office for Subbaraya Nagar?

The Sub Registrar Office for Subbaraya Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can also find your SRO online.