Guideline Value for Subburaya Nagar 5th Street

Subburaya Nagar 5th Street guideline value

The current guideline value of Subburaya Nagar 5th Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village under the Pammal SRO, classified as Residential Class I Type - I.

How the guideline value of Subburaya Nagar 5th Street has changed

The guideline value for Subburaya Nagar 5th Street has seen significant changes over the years. The earliest recorded revision in 2003 set the value at Rs 242 per sq.ft. This increased to Rs 350 per sq.ft in 2007, representing a 45% rise. The value then surged dramatically to Rs 1,474 per sq.ft in 2017, marking a 321% increase from the previous revision. In 2023, the guideline value further rose to Rs 2,200 per sq.ft, a 49% increase from 2017. The most recent revision in 2024 has established the current value at Rs 2,420 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002 and 2012 for this street in the register.

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 value of Rs 2,420 per sq.ft aligns with the current guideline value of Subburaya Nagar 5th Street.

• Subburaya Nagar 4th Street: Rs 2,420 per sq.ft (2024)
• Subburaya Nagar 6th Street: Rs 2,420 per sq.ft (2024)
• Subburaya Nagar 3rd Street: Rs 2,420 per sq.ft (2024)
• Subburaya Nagar 7th Street: Rs 2,420 per sq.ft (2024)
• Subburaya Nagar 2nd Street: Rs 2,420 per sq.ft (2024)
• Subburaya Nagar 8th Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Subburaya Nagar 5th 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, making the total charges 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 details.

Which Sub Registrar Office covers Subburaya Nagar 5th Street?

The Sub Registrar Office that covers Subburaya Nagar 5th 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 crucial factor when buying or selling property in Thiruneermalai. It serves as a benchmark for determining the stamp duty and registration fees payable during the registration process. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements and accurate financial planning.

When a property transaction occurs, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Subburaya Nagar 5th Street?

The current guideline value of Subburaya Nagar 5th 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, representing an overall increase of 900% over this period.

What is the land classification for Subburaya Nagar 5th Street?

Subburaya Nagar 5th Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Pammal Sub Registrar Office covers Subburaya Nagar 5th Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, a 1,000 sq.ft plot at the current guideline value incurs a total stamp duty of Rs 1,69,400.