Guideline Value for Subbarayan 3rd lane

Subbarayan 3rd lane guideline value

The current guideline value of Subbarayan 3rd lane in Egmore village, under the Periamet SRO, is Rs 7,100 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Subbarayan 3rd lane has changed

The guideline value for Subbarayan 3rd lane has seen several revisions over the years. In 2002, the guideline value was Rs 508 per sq.ft. This increased to Rs 560 per sq.ft in 2003, marking a 10% rise. The value then rose significantly to Rs 1,000 per sq.ft in 2007, which was an increase of 79%. Following that, the value surged to Rs 6,500 per sq.ft in 2012, reflecting a remarkable 550% increase. However, it decreased to Rs 4,355 per sq.ft in 2017, showing a decline of 33% before rising again to Rs 6,500 per sq.ft in 2023, a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 7,100 per sq.ft, which is a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1298%. There are no figures available for the revisions in years other than those listed above.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO with 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 guideline value of Subbarayan 3rd lane.

• Subbarayan 2nd 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 3rd lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to 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, making the total fees together Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subbarayan 3rd lane?

The Sub Registrar Office that covers Subbarayan 3rd lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is essential for property registration in Egmore. It serves as a reference point for determining the stamp duty and registration fees applicable during the sale or purchase of property. When a property is registered, the guideline value is used to assess the charges based on the current rates.

Buyers and sellers should be aware that the guideline value can influence the total cost of registration. It is crucial to check the latest guideline value to ensure accurate calculations for stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Subbarayan 3rd lane?

The current guideline value of Subbarayan 3rd 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 from Rs 508 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 1298% over this period.

What are the stamp duty and registration fees for property in Subbarayan 3rd lane?

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Which office handles registrations for Subbarayan 3rd lane?

The Periamet Sub Registrar Office handles registrations for Subbarayan 3rd lane, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification for Subbarayan 3rd lane?

Subbarayan 3rd lane falls under the Residential Class II Type - I land classification.