Guideline Value for Subramani Chetty Lane

Subramani Chetty Lane guideline value

The current guideline value of Subramani Chetty Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This lane is located in Muthiyalpet village, under the Sowcarpet SRO, and is classified as Residential Class I Type - I.

How the guideline value of Subramani Chetty Lane has changed

The guideline value for Subramani Chetty Lane has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 1,200 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a 233% rise. However, in 2017, the value decreased to Rs 2,680 per sq.ft, a drop of 33%. The value then rose to Rs 4,000 per sq.ft in 2023, and subsequently increased by 10% to the current rate of Rs 4,400 per sq.ft in 2024.

There are no recorded figures for the years 2002 and 2003 for this street. The overall change from the 2007 revision to the 2024 revision is an increase of 267%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the guideline value of Subramani Chetty Lane.

• Subramani Chetty Street: Rs 4,400 per sq.ft (2024)
• Subramaniya Mudali Street: Rs 4,400 per sq.ft (2024)
• Subbu Chetty Street: Rs 4,400 per sq.ft (2024)
• Subbaraya Pillai Street: Rs 4,400 per sq.ft (2024)
• Subbaraya Naicken Lane: Rs 6,600 per sq.ft (2024)
• Sudaram 1st Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Subramani Chetty Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost for these fees would be Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Subramani Chetty Lane?

The Sub Registrar Office that covers Subramani Chetty Lane is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Muthiyalpet. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that buyers must pay during the transaction.

When selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Subramani Chetty Lane?

The current guideline value of Subramani Chetty Lane is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, which is the same as the guideline value for Subramani Chetty Lane.

What are the stamp duty and registration fees for a property in Subramani Chetty Lane?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles property registrations for Subramani Chetty Lane?

The Sowcarpet Sub Registrar Office handles property registrations for Subramani Chetty Lane, located at No.11, Davidson Street, Sowcarpet, Chennai-01.