Guideline Value for Subramani Chetty Street

Subramani Chetty Street guideline value

The current guideline value of Subramani Chetty Street is Rs 4,400 per sq.ft, effective from the 2024 revision. This street 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 Street has changed

The guideline value for Subramani Chetty Street has undergone several revisions over the years. The 2007 revision recorded a value of Rs 1,200 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in the 2012 revision, marking a rise of 233%. However, in the 2017 revision, the value decreased to Rs 2,680 per sq.ft, reflecting a drop of 33%. The value then rose to Rs 4,000 per sq.ft in the 2023 revision, with a substantial increase of 49% from the previous figure. The latest revision in 2024 set the guideline value at Rs 4,400 per sq.ft, which is a 10% increase from 2023.

It is important to note that the register does not have figures for Subramani Chetty Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Muthiyalpet

Muthiyalpet village consists of 357 streets under the Sowcarpet SRO, with guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which matches the current guideline value for Subramani Chetty Street.

• Subramani Chetty Lane: 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 Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, leading to a total of Rs 3,96,000. It is important to note that 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 more details.

Which Sub Registrar Office covers Subramani Chetty Street?

The Sub Registrar Office that covers Subramani Chetty Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, in the Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Muthiyalpet. 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 sold, the buyer must ensure that the sale price is either equal to or higher than the guideline value to avoid any discrepancies during registration. This ensures that the transaction is legally recognized and that all necessary fees are duly paid.

Frequently asked questions

What is the current guideline value of Subramani Chetty Street?

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

How much has the guideline value changed over the years?

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

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

The registration office for Subramani Chetty Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01.

What is the stamp duty rate for properties in Subramani Chetty Street?

The stamp duty rate for properties in Subramani Chetty Street is 7% of the guideline value or the sale price, whichever is higher.

Are there other streets with the same guideline value in Muthiyalpet?

Yes, several other streets in Muthiyalpet also have a guideline value of Rs 4,400 per sq.ft, including Subramani Chetty Lane, Subramaniya Mudali Street, Subbu Chetty Street, and Subbaraya Pillai Street.