Guideline Value for Subramani Bharathiyar Street

Subramani Bharathiyar Street guideline value

The current guideline value of Subramani Bharathiyar Street is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in Naravarikuppam village, under the Redhills SRO, and is classified as Residential Class I Type - I.

How the guideline value of Subramani Bharathiyar Street has changed

The guideline value for Subramani Bharathiyar Street has seen several revisions over the years. The earliest recorded figure is from 2002 at Rs 3,471 per sq.ft, which then decreased to Rs 353 per sq.ft in 2003. Following this, the value increased to Rs 500 per sq.ft in 2007, then rose significantly to Rs 1,700 per sq.ft in 2012. However, it dropped to Rs 1,139 per sq.ft in 2017. The value then increased to Rs 1,700 per sq.ft in 2023, before reaching the current figure of Rs 1,870 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. From 2017 to 2023, the increase was 49%. The value decreased by 33% from 2012 to 2017. Notably, there was a substantial increase of 240% from 2007 to 2012, and a 42% increase from 2003 to 2007. The value experienced a significant drop of 90% from 2002 to 2003. Overall, from 2002 to 2024, there has been a decrease of 46% in the guideline value.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,650 per sq.ft. Subramani Bharathiyar Street's current guideline value is above this median.

• Subramania Bharathiar Cross Street: Rs 1,870 per sq.ft (2024)
• Sri Ram Garden: Rs 2,200 per sq.ft (2024)
• Thanthai Periar Cross Street: Rs 1,650 per sq.ft (2024)
• Thanthai Periyar Street: Rs 1,320 per sq.ft (2024)
• Thiru.Vi.Ka. Street: Rs 3,300 per sq.ft (2024)
• Thirvalluvar Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Subramani Bharathiyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value would be Rs 18,70,000. The stamp duty charged at 7% would amount to Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, bringing the total cost for these fees to Rs 1,68,300. 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 Subramani Bharathiyar Street?

The Subramani Bharathiyar Street is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Naravarikuppam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value ensures that these fees are calculated based on a standardized valuation of the property.

When selling property, the guideline value can also serve as a reference point for both buyers and sellers. It helps in understanding the value of the property in the context of local market conditions and facilitates a smoother transaction process.

Frequently asked questions

What is the current guideline value of Subramani Bharathiyar Street?

The current guideline value of Subramani Bharathiyar Street is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,471 per sq.ft in 2002 to Rs 1,870 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Subramani Bharathiyar Street?

Subramani Bharathiyar Street is classified as Residential Class I Type - I.

Where can I find the registration office for Subramani Bharathiyar Street?

The registration office for Subramani Bharathiyar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for property in Subramani Bharathiyar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 1,30,900.