Guideline Value for Subedhar Street

Subedhar Street guideline value

The current guideline value of Subedhar Street in Parangimalai village is Rs 3,850 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - I.

How the guideline value of Subedhar Street has changed

The guideline value for Subedhar Street has undergone several revisions over the years. In 2002, the value was Rs 352 per sq.ft, which increased to Rs 440 per sq.ft in 2003. Following this, the value rose significantly to Rs 800 per sq.ft in 2007, and then saw a substantial increase to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017. The next revision in 2023 brought the value back up to Rs 3,500 per sq.ft, and the most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft.

Between the revisions, the most notable changes include a 338% increase from 2007 to 2012, followed by a 49% increase from 2017 to 2023. The current increase from 2023 to 2024 is 10%. Overall, from 2002 to 2024, the guideline value has increased by 994%.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO with a 2024 guideline value range from Rs 2,750 to Rs 11,000 per sq.ft. The guideline value for Subedhar Street is equal to the median value of Rs 3,850 per sq.ft in the area.

• Swaminathan Street: Rs 3,850 per sq.ft (2024)
• Taduma Street/Nagar: Rs 2,750 per sq.ft (2024)
• Thadikara Swamy Street: Rs 3,850 per sq.ft (2024)
• Thiruvalluvar Ist, II nd, IIIrd Lane: Rs 3,850 per sq.ft (2024)
• Sowri Street: Rs 3,850 per sq.ft (2024)
• South Raja Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Subedhar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total charges to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Subedhar Street?

The Sub Registrar Office that covers Subedhar Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Parangimalai. It is used to determine the stamp duty and registration fees applicable when buying or selling a property. The guideline value is set by the government and serves as a benchmark for property transactions in the area.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of Subedhar Street?

The current guideline value of Subedhar Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 352 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, with significant revisions in 2007, 2012, 2017, and 2023.

What is the land classification for Subedhar Street?

Subedhar Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Subedhar Street?

The Sub Registrar Office for Subedhar Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Parangimalai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. The current rate for stamp duty is 7%, and the registration fee is 2% of the guideline value.