Guideline Value for Subbarayan 2nd lane

Subbarayan 2nd lane guideline value

The current guideline value of Subbarayan 2nd lane is Rs 7,100 per sq.ft, effective from 1 July 2024. This lane is located in Egmore village under the Periamet SRO, classified as Residential Class II Type - I.

How the guideline value of Subbarayan 2nd lane has changed

The guideline value for Subbarayan 2nd lane has seen several revisions over the years. In 2002, the value was Rs 508 per sq.ft, which increased to Rs 560 per sq.ft in 2003. Following this, there was a significant increase to Rs 1,000 per sq.ft in 2007. The value then rose dramatically to Rs 6,500 per sq.ft in 2012, before dropping to Rs 4,355 per sq.ft in 2017. The guideline value further increased to Rs 6,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 7,100 per sq.ft.

Between these revisions, the changes were notable. From 2002 to 2003, the increase was +10%. The jump from 2003 to 2007 saw an increase of +79%, followed by a substantial rise of +550% from 2007 to 2012. However, the value decreased by -33% from 2012 to 2017. The value then increased by +49% from 2017 to 2023, and the most recent revision from 2023 to 2024 saw an increase of +9%. Overall, from 2002 to 2024, the guideline value has increased by +1298%.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO, with guideline values ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value is Rs 7,100 per sq.ft, which is the same as the current value for Subbarayan 2nd lane.

• Subbarayan 3rd lane: Rs 7,100 per sq.ft (2024)
• Subbaraya Gramani street: Rs 7,100 per sq.ft (2024)
• Subbarayan 1st 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 Subbarayan 2nd lane

For a property measuring 1,000 sq.ft at the current guideline value, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, leading to a total of 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 Subbarayan 2nd lane?

The Sub Registrar Office that covers Subbarayan 2nd lane 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 plays a crucial role during the registration process of property transactions in Egmore. It is used to determine the stamp duty and registration fees applicable to the property being sold or purchased. This ensures that the transaction is recorded accurately and in compliance with local regulations.

When buying or selling property, the guideline value is referenced to ascertain the minimum value for taxation purposes. It serves as a benchmark for both buyers and sellers to understand the legal value of the property in question.

Frequently asked questions

What is the current guideline value of Subbarayan 2nd lane?

The current guideline value of Subbarayan 2nd lane 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 508 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of +1298% over the years.

What is the stamp duty for properties in Subbarayan 2nd lane?

The stamp duty for properties in Subbarayan 2nd lane is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Subbarayan 2nd lane located?

The Sub Registrar Office for Subbarayan 2nd lane is located at 1103, Poonamallee High Road, Chennai-600 003.

What is the median guideline value in Egmore?

The median guideline value in Egmore village is Rs 7,100 per sq.ft, which is the same as the current value for Subbarayan 2nd lane.