Guideline Value for Subburaya Nagar 2nd Street

Subburaya Nagar 2nd Street guideline value

The current guideline value of Subburaya Nagar 2nd Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village under the Pammal SRO and is classified as Residential Class I Type - I.

How the guideline value of Subburaya Nagar 2nd Street has changed

The guideline value for Subburaya Nagar 2nd Street has seen significant revisions over the years. In 2003, the value was Rs 242 per sq.ft, which increased to Rs 350 per sq.ft in 2007. Following this, there was a substantial rise to Rs 1,474 per sq.ft in 2017, marking an increase of 321%. The value then further increased to Rs 2,200 per sq.ft in 2023, a 49% jump from the previous revision. The latest revision in 2024 set the guideline value at Rs 2,420 per sq.ft, reflecting a 10% increase from 2023.

The register does not have figures for the years 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 guideline value is Rs 2,420 per sq.ft, which is equal to the current value of Subburaya Nagar 2nd Street.

• Subburaya Nagar 2nd Main Road: Rs 2,420 per sq.ft (2024)
• Subburaya Nagar 3rd Street: Rs 2,420 per sq.ft (2024)
• Subburaya Nagar 2nd Cross Street: Rs 2,420 per sq.ft (2024)
• Subburaya Nagar 4th Street: Rs 2,420 per sq.ft (2024)
• Subburaya Nagar 1st Street: Rs 2,420 per sq.ft (2024)
• Subburaya Nagar 5th Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Subburaya Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, totaling Rs 2,17,800. 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 Subburaya Nagar 2nd Street?

The Sub Registrar Office that covers Subburaya Nagar 2nd 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 information.

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

The guideline value is a critical factor during property transactions in Thiruneermalai. It is used to determine the stamp duty and registration fees that need to be paid at the time of property registration.

When buying or selling property, the guideline value serves as a benchmark for assessing the value of the property. Buyers and sellers should be aware of these values to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Subburaya Nagar 2nd Street?

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

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 242 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024, representing a total increase of 900% over the years.

What is the land classification of Subburaya Nagar 2nd Street?

Subburaya Nagar 2nd Street is classified as Residential Class I Type - I.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Subburaya Nagar 2nd Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 24,20,000, the stamp duty would be Rs 1,69,400.