Guideline Value for Subramania Chetty Street

Subramania Chetty Street guideline value

The current guideline value of Subramania Chetty Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Class II Type - I.

How the guideline value of Subramania Chetty Street has changed

The guideline value for Subramania Chetty Street has undergone several revisions over the years. The 2007 revision recorded a value of Rs 945 per sq.ft, which saw a significant increase to Rs 5,000 per sq.ft in the 2012 revision. However, this value dropped to Rs 3,350 per sq.ft in the 2017 revision. Following this, the 2023 revision set the value at Rs 5,000 per sq.ft, and the most recent 2024 revision has increased it to Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 482%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft, with a median value of Rs 6,600 per sq.ft. The guideline value for Subramania Chetty Street is below this median.

• Subramania Mudali Street: Rs 5,500 per sq.ft (2024)
• Subedar Hussain Street: Rs 6,600 per sq.ft (2024)
• Subbarayan Street: Rs 6,600 per sq.ft (2024)
• Subbaraya Mudali Street: Rs 6,600 per sq.ft (2024)
• Subbaraya Chetty Street: Rs 6,600 per sq.ft (2024)
• Subramaniya Vaidiyar Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Subramania Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty, charged at 7%, would be Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Together, these fees total Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Subramania Chetty Street?

The Subramania Chetty Street falls under the jurisdiction of the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Triplicane. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is used to calculate the applicable fees during the registration process, making it essential for all parties involved in the transaction.

Frequently asked questions

What is the current guideline value of Subramania Chetty Street?

The current guideline value of Subramania Chetty Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 945 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 482% over the years.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Subramania Chetty Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Subramania Chetty Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

Are there other streets with similar guideline values in Triplicane?

Yes, there are several other streets in Triplicane with similar guideline values, such as Subramania Mudali Street at Rs 5,500 per sq.ft and others ranging from Rs 5,500 to Rs 6,600 per sq.ft.