Guideline Value for Ussain Subedhar Street

Ussain Subedhar Street guideline value

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

How the guideline value of Ussain Subedhar Street has changed

The guideline value for Ussain Subedhar Street has seen several revisions over the years. In 2002, the guideline value was Rs 392 per sq.ft. This increased to Rs 490 per sq.ft in 2003, marking a 25% rise. By 2007, the value surged to Rs 750 per sq.ft, reflecting a 53% increase. The value then experienced a significant jump to Rs 3,500 per sq.ft in 2012, representing a 367% increase. However, in 2017, the value dropped to Rs 2,345 per sq.ft, a decrease of 33%. The 2023 revision saw the guideline value rise to Rs 3,500 per sq.ft, which was a 49% increase from the previous figure. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, marking a 10% increase from 2023.

Guideline values in Parangimalai

In Parangimalai village, there are 233 streets under the Chennai South Joint II SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, which matches the current value of Ussain Subedhar Street.

• Valluvar Street: Rs 3,300 per sq.ft (2024)
• Valluvar Street (Kalaignar Nagar): Rs 3,300 per sq.ft (2024)
• Thulasinghapuram: Rs 3,300 per sq.ft (2024)
• Vedagiri Street: Rs 3,850 per sq.ft (2024)
• Vembuli Subedhar Street: Rs 3,850 per sq.ft (2024)
• Thiruvalluvar Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Ussain 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, while the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. 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 further calculations.

Which Sub Registrar Office covers Ussain Subedhar Street?

The Sub Registrar Office that covers Ussain 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 is a crucial factor in the registration process when buying or selling property in Parangimalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers must pay these fees based on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ussain Subedhar Street?

The current guideline value of Ussain 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 392 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 882% over the years.

What is the stamp duty rate for properties in Ussain Subedhar Street?

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

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

The Sub Registrar Office for Ussain 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.

What is the land classification for Ussain Subedhar Street?

Ussain Subedhar Street is classified as Residential Class II Type - I under the land classification system.