Guideline Value for Subburaya Nagar 3rd Street

Subburaya Nagar 3rd Street guideline value

The current guideline value of Subburaya Nagar 3rd 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 3rd Street has changed

The guideline value for Subburaya Nagar 3rd Street has undergone several revisions over the years. In 2003, the value was Rs 242 per sq.ft, which increased to Rs 350 per sq.ft in 2007, marking a change of +45%. By 2017, the value rose significantly to Rs 1,474 per sq.ft, reflecting an increase of +321%. The 2023 revision set the value at Rs 2,200 per sq.ft, a +49% increase from the previous revision. The most recent revision in 2024 has further increased the value to Rs 2,420 per sq.ft, which is a +10% change from 2023.

It is important to note that 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 village, 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 3rd Street.

• Subburaya Nagar 2nd Street: Rs 2,420 per sq.ft (2024)
• Subburaya Nagar 4th Street: Rs 2,420 per sq.ft (2024)
• Subburaya Nagar 2nd Main Road: Rs 2,420 per sq.ft (2024)
• Subburaya Nagar 5th Street: Rs 2,420 per sq.ft (2024)
• Subburaya Nagar 2nd Cross Street: Rs 2,420 per sq.ft (2024)
• Subburaya Nagar 6th Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Subburaya Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, 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, bringing the total fees to 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subburaya Nagar 3rd Street?

The Sub Registrar Office that covers Subburaya Nagar 3rd Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the 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 crucial factor during the registration of property transactions in Thiruneermalai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the fees based on the higher of the guideline value or the sale price. This ensures that the fees are appropriately aligned with the property's official value as determined by the registration department.

Frequently asked questions

What is the current guideline value of Subburaya Nagar 3rd Street?

The current guideline value of Subburaya Nagar 3rd 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, reflecting an overall increase of +900% over this period.

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

For a property valued at Rs 24,20,000, the stamp duty would be Rs 1,69,400 and the registration fee would be Rs 48,400, totaling Rs 2,17,800.

Which office handles registrations for Subburaya Nagar 3rd Street?

The Pammal Sub Registrar Office handles registrations for Subburaya Nagar 3rd Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the median guideline value in Thiruneermalai?

The median guideline value in Thiruneermalai is Rs 2,420 per sq.ft, which is the same as the current guideline value for Subburaya Nagar 3rd Street.