Guideline Value for Subbarayan Street

Subbarayan Street guideline value

The current guideline value of Subbarayan Street in Nungambakkam village, under the Chennai Central Joint II SRO, is Rs 8,800 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Special Type - II.

How the guideline value of Subbarayan Street has changed

The guideline value for Subbarayan Street has seen several revisions over the years. In 2007, the value was Rs 4,200 per sq.ft, which increased to Rs 8,000 per sq.ft in 2012. However, in 2017, it dropped to Rs 5,360 per sq.ft before rising again to Rs 8,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 8,800 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 110%. The revisions for the years 2002 and 2003 do not have figures available for Subbarayan Street in the register.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value is Rs 8,800 per sq.ft, which aligns with the current guideline value of Subbarayan Street.

• Subbarayan Avenue: Rs 11,500 per sq.ft (2024)
• Subbarao Avenue 3rd Street: Rs 11,500 per sq.ft (2024)
• Subbarao Avenue 2nd Street: Rs 11,500 per sq.ft (2024)
• Subbarao Avenue 1st Street: Rs 11,500 per sq.ft (2024)
• Sterling Road 4rd Cross Street: Rs 9,900 per sq.ft (2024)
• Sterling Road 3rd Cross Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Subbarayan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, leading to a total of Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Subbarayan Street?

The Sub Registrar Office that covers Subbarayan Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Nungambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official value of the property. This value is used to calculate the applicable stamp duty and registration fees, which are based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of Subbarayan Street?

The current guideline value of Subbarayan Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,200 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 110% over the years.

What is the land classification for Subbarayan Street?

The land classification for Subbarayan Street is Residential Special Type - II.

Where can I find the Sub Registrar Office for Subbarayan Street?

The Sub Registrar Office for Subbarayan Street is located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is stamp duty calculated for properties in Subbarayan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 at a rate of 7%.