Guideline Value for PERIYAR NAGAR - Sabari Street

PERIYAR NAGAR - Sabari Street guideline value

The current guideline value of PERIYAR NAGAR - Sabari Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village, under the Virugambakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of PERIYAR NAGAR - Sabari Street has changed

The guideline value for PERIYAR NAGAR - Sabari Street has seen significant changes over the years. In 2002, the guideline value was Rs 197 per sq.ft. This figure rose to Rs 217 per sq.ft in 2003, marking a 10% increase. The value then experienced substantial growth, reaching Rs 1,100 per sq.ft in 2007, which represented a remarkable 407% increase. By 2012, the value was Rs 3,500 per sq.ft, reflecting a 218% increase from the previous revision.

From 2012 to 2017, the guideline value decreased to Rs 2,345 per sq.ft, a decline of 33%. However, the following years saw a resurgence, with the value climbing to Rs 3,500 per sq.ft in 2023, an increase of 49%. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, marking a 10% rise from the previous year.

Guideline values in Nesapakkam

Nesapakkam has a range of guideline values, with 148 streets under the Virugambakkam SRO carrying values from Rs 2,200 to Rs 7,150 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, positioning PERIYAR NAGAR - Sabari Street above this median at Rs 3,850 per sq.ft.

• PERIYAR NAGAR - Raman Street: Rs 3,850 per sq.ft (2024)
• PERIYAR NAGAR - Raman Cross Street: Rs 3,850 per sq.ft (2024)
• PERIYAR NAGAR - Sivalingam Street: Rs 3,850 per sq.ft (2024)
• PERIYAR NAGAR - T.K.Bhani 1st Cross Street: Rs 3,850 per sq.ft (2024)
• PERIYAR NAGAR - T.K.Bhani 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• PERIYAR NAGAR - T.K.Bhani 3rd Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in PERIYAR NAGAR - Sabari 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, and the registration fee at 2% would be Rs 77,000, bringing the total fees to Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers PERIYAR NAGAR - Sabari Street?

The Sub Registrar Office that covers PERIYAR NAGAR - Sabari Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Nesapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold or purchased, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and complies with the state's regulations.

Frequently asked questions

What is the current guideline value of PERIYAR NAGAR - Sabari Street?

The current guideline value of PERIYAR NAGAR - Sabari 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 significantly from Rs 197 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 1854% over this period.

What is the median guideline value in Nesapakkam?

The median guideline value in Nesapakkam is Rs 3,300 per sq.ft, which means that PERIYAR NAGAR - Sabari Street is above this median value.

What are the stamp duty rates for property transactions in this area?

The stamp duty rate for property transactions in this area is 7%, while the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for PERIYAR NAGAR - Sabari Street?

The Sub Registrar Office for PERIYAR NAGAR - Sabari Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.