Guideline Value for Subburaya Nagar 1st Cross Street

Subburaya Nagar 1st Cross Street guideline value

The current guideline value of Subburaya Nagar 1st Cross Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village and falls under the Pammal SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Subburaya Nagar 1st Cross Street has changed

The guideline value for Subburaya Nagar 1st Cross Street has seen significant changes over the years. In 2003, the guideline value was Rs 242 per sq.ft, which increased to Rs 350 per sq.ft in 2007, marking a change of +45%. The value then surged to Rs 1,474 per sq.ft in 2017, reflecting a substantial increase of +321%. By 2023, the value rose to Rs 2,200 per sq.ft, representing a +49% change from the previous revision. The latest revision in 2024 has set the guideline value at Rs 2,420 per sq.ft, a +10% increase from 2023.

There are no figures available for the revisions in 2002 and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by +900%.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value is Rs 2,420 per sq.ft, which is equal to the 2024 figure for Subburaya Nagar 1st Cross Street.

• Subburaya Nagar 1st Main Road: Rs 2,420 per sq.ft (2024)
• Subburaya Nagar 1st Street: Rs 2,420 per sq.ft (2024)
• Subburaya Nagar 2nd Cross Street: Rs 2,420 per sq.ft (2024)
• Subbuayya Nagar (S.no. 257/1A1A1A1D): Rs 2,420 per sq.ft (2024)
• Subburaya Nagar 2nd Main Road: Rs 2,420 per sq.ft (2024)
• Subburaya Nagar 2nd Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Subburaya Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total cost for these fees to Rs 2,17,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subburaya Nagar 1st Cross Street?

The Sub Registrar Office that covers Subburaya Nagar 1st Cross Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor when registering a property in Thiruneermalai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must ensure that the sale price is either equal to or higher than the guideline value to avoid any complications during registration.

When a property is sold, the guideline value helps in establishing a fair price for the transaction, ensuring that both parties are aware of the financial implications related to stamp duty and registration fees. This process is essential for maintaining transparency and legality in property transactions.

Frequently asked questions

What is the current guideline value of Subburaya Nagar 1st Cross Street?

The current guideline value of Subburaya Nagar 1st Cross Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 242 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024, which is an overall increase of +900% across the revisions.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 1,69,400 and the registration fee is Rs 48,400, totaling Rs 2,17,800.

Which office handles the registration for Subburaya Nagar 1st Cross Street?

The Pammal Sub Registrar Office handles the registration for Subburaya Nagar 1st Cross Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Subburaya Nagar 1st Cross Street?

The land classification for Subburaya Nagar 1st Cross Street is Residential Class I Type - I.