Guideline Value for Subbarayan Street

Subbarayan Street guideline value

The current guideline value of Subbarayan Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Class I Type - I.

How the guideline value of Subbarayan Street has changed

The guideline value for Subbarayan Street has undergone several revisions over the years. In 2007, the value was Rs 945 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012, marking a remarkable rise of 535%. However, from 2012 to 2017, the value decreased to Rs 4,020 per sq.ft, a decline of 33%. The value then rose again to Rs 6,000 per sq.ft in 2023, and further increased to Rs 6,600 per sq.ft in 2024, representing a 10% increase.

There are no figures for the years 2002 and 2003 in the register for Subbarayan Street. Overall, from 2007 to 2024, the guideline value has increased by 598%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value is Rs 6,600 per sq.ft, which is the same as the current value for Subbarayan Street.

• Subedar Hussain Street: Rs 6,600 per sq.ft (2024)
• Subbaraya Mudali Street: Rs 6,600 per sq.ft (2024)
• Subbaraya Chetty Street: Rs 6,600 per sq.ft (2024)
• Subramania Chetty Street: Rs 5,500 per sq.ft (2024)
• Subramania Mudali Street: Rs 5,500 per sq.ft (2024)
• Subadral St: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Subbarayan Street

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, the guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subbarayan Street?

The Sub Registrar Office that covers Subbarayan Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Triplicane. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in property dealings. This value is essential for both buyers and sellers to understand their financial obligations during the property transfer process.

Frequently asked questions

What is the current guideline value of Subbarayan Street?

The current guideline value of Subbarayan Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 945 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 598% over the years.

What are the stamp duty and registration fees for property in Subbarayan Street?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which Sub Registrar Office covers Subbarayan Street?

The Triplicane Sub Registrar Office, located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014, covers Subbarayan Street.

What is the land classification of Subbarayan Street?

Subbarayan Street is classified as Residential Class I Type - I, indicating its designation for residential use.