Guideline Value for Subburaya Nagar 8th Street

Subburaya Nagar 8th Street guideline value

The current guideline value of Subburaya Nagar 8th 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 8th Street has changed

The guideline value for Subburaya Nagar 8th Street has seen significant revisions over the years. In 2003, the guideline 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 further rose to Rs 2,200 per sq.ft in 2023, an increase of 49%. The most recent revision in 2024 set the guideline value at Rs 2,420 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register does not contain 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 2024 figure for Subburaya Nagar 8th Street.

• Subburaya Nagar 7th Street: Rs 2,420 per sq.ft (2024)
• Subburaya Nagar 6th Street: Rs 2,420 per sq.ft (2024)
• Subburaya Nagar 5th Street: Rs 2,420 per sq.ft (2024)
• Subburaya Nagar 4th 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 8th 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 be Rs 1,69,400, and the registration fee at 2% would amount to Rs 48,400, leading to a total of 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Subburaya Nagar 8th Street?

The Sub Registrar Office that covers Subburaya Nagar 8th 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 property transactions in Thiruneermalai. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are mandatory for legal ownership transfer. This ensures that all transactions are recorded accurately and transparently in the official register.

Frequently asked questions

What is the current guideline value of Subburaya Nagar 8th Street?

The current guideline value of Subburaya Nagar 8th 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% over this period.

What are the stamp duty and registration fees for property transactions?

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 Sub Registrar Office is responsible for Subburaya Nagar 8th Street?

The Pammal Sub Registrar Office is responsible for Subburaya Nagar 8th Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value for property registration and is essential for calculating stamp duty and registration fees during property transactions.