Guideline Value for Subburaya Nagar 6th Street

Subburaya Nagar 6th Street guideline value

The current guideline value of Subburaya Nagar 6th 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 6th Street has changed

The guideline value for Subburaya Nagar 6th 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%. The value saw a significant rise to Rs 1,474 per sq.ft in 2017, reflecting an increase of +321%. The most recent revision in 2023 set the value at Rs 2,200 per sq.ft, which was a +49% change from the previous figure. The current value of Rs 2,420 per sq.ft from the 2024 revision represents a +10% increase 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, 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 the same as the guideline value for Subburaya Nagar 6th Street.

• Subburaya Nagar 5th Street: Rs 2,420 per sq.ft (2024)
• Subburaya Nagar 7th Street: Rs 2,420 per sq.ft (2024)
• Subburaya Nagar 4th Street: Rs 2,420 per sq.ft (2024)
• Subburaya Nagar 8th Street: Rs 2,420 per sq.ft (2024)
• Subburaya Nagar 3rd Street: 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 6th 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 together to Rs 2,17,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Subburaya Nagar 6th Street?

The Sub Registrar Office that covers Subburaya Nagar 6th 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 in the registration process when buying or selling property in Thiruneermalai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Subburaya Nagar 6th Street?

The current guideline value for Subburaya Nagar 6th 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 seen significant changes, increasing from Rs 242 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024, which is an overall increase of +900% over the years.

What is the land classification for Subburaya Nagar 6th Street?

Subburaya Nagar 6th Street is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for a property in Subburaya Nagar 6th Street?

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 6th Street?

The Pammal Sub Registrar Office handles registrations for Subburaya Nagar 6th Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.