Guideline Value for Subbaraya Pillai Street

Subbaraya Pillai Street guideline value

The current guideline value of Subbaraya Pillai Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, classified as Residential Class I Type - I.

How the guideline value of Subbaraya Pillai Street has changed

The guideline value for Subbaraya Pillai Street has undergone several revisions over the years. In 2003, the value was Rs 920 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007, marking a 30% rise. Following this, the value jumped significantly to Rs 4,000 per sq.ft in 2012, reflecting a remarkable increase of 233%. However, it then decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase again, reaching Rs 4,000 per sq.ft in 2023, and finally rising to Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

There is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 378%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value of Subbaraya Pillai Street.

• Subbu Chetty Street: Rs 4,400 per sq.ft (2024)
• Subbaraya Naicken Lane: Rs 6,600 per sq.ft (2024)
• Subramani Chetty Lane: Rs 4,400 per sq.ft (2024)
• Subramani Chetty Street: Rs 4,400 per sq.ft (2024)
• Stringer Street (Walltax Road): Rs 6,000 per sq.ft (2024)
• Stringer Street (Broadway): Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Subbaraya Pillai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Subbaraya Pillai Street?

The Sub Registrar Office that covers Subbaraya Pillai Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, Chennai registration zone. You can find your SRO for more information.

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

When buying or selling property in Muthiyalpet, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value serves as a benchmark for property transactions, ensuring that the fees are calculated based on a standardized value.

It is essential for buyers and sellers to be aware of the current guideline value to accurately estimate the total costs involved in the transaction. This helps in making informed decisions and ensures compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Subbaraya Pillai Street?

The current guideline value of Subbaraya Pillai Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 920 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 378% over this period.

What is the land classification for Subbaraya Pillai Street?

Subbaraya Pillai Street is classified as Residential Class I Type - I under the local land classification system.

Where can I find the Sub Registrar Office for Subbaraya Pillai Street?

The Sub Registrar Office for Subbaraya Pillai Street is located at No.11, Davidson Street, Sowcarpet, Chennai-01, Chennai registration zone.

How is the stamp duty calculated for properties in Muthiyalpet?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the stamp duty would be calculated at 7% of that amount.