Guideline Value for SABAPATHI NAGAR

Sabapathi Nagar guideline value

The current guideline value of Sabapathi Nagar, located in Voyalur village under the Ponneri SRO, is Rs 100 per sq.ft. This value is effective from the 2024 revision, which came into effect on 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sabapathi Nagar has changed

The guideline value for Sabapathi Nagar has undergone several revisions over the years. The earliest recorded revision is from 2017, where the guideline value was Rs 67 per sq.ft. This figure increased significantly by 49% to Rs 100 per sq.ft in the 2023 revision, and it has remained the same in the 2024 revision, showing no change from the previous year.

For the years 2002, 2003, 2007, and 2012, the register has no figure for this street. Overall, from 2017 to 2024, the guideline value has increased by 49%, highlighting a consistent rise in value during this period.

Guideline values in Voyalur

In Voyalur, there are 17 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 150 per sq.ft, with the median being Rs 100 per sq.ft. Sabapathi Nagar's 2024 guideline value aligns perfectly with this median.

• Sri Krishna Nagar: Rs 150 per sq.ft (2024)
• Sri Thiruvudaiamman Avenue: Rs 100 per sq.ft (2024)
• Sri Thiruvudaiamman Nagar: Rs 100 per sq.ft (2024)
• Muthu Nagar City: Rs 100 per sq.ft (2024)
• Thulukkanathamman Nagar: Rs 126 per sq.ft (2024)
• Mahalakshmi Nagar II: Rs 126 per sq.ft (2024)

Stamp duty and registration fee for property in Sabapathi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total to Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sabapathi Nagar?

Sabapathi Nagar falls under the Ponneri Sub Registrar Office located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Voyalur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure they comply with legal requirements during registration.

When a property is sold, the guideline value is compared to the sale price, and the higher value is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Sabapathi Nagar?

The current guideline value of Sabapathi Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in 2023, and it has remained the same in 2024, marking a 49% increase overall from 2017 to 2024.

What are the other streets in Voyalur with guideline values?

Other streets in Voyalur include Sri Krishna Nagar at Rs 150 per sq.ft, Sri Thiruvudaiamman Avenue at Rs 100 per sq.ft, and Muthu Nagar City at Rs 100 per sq.ft, among others.

How is stamp duty calculated in Sabapathi Nagar?

Stamp duty in Sabapathi Nagar is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft would incur a total stamp duty and registration fee of Rs 9,000.

Where is the Sub Registrar Office for Sabapathi Nagar located?

The Ponneri Sub Registrar Office, which covers Sabapathi Nagar, is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.