Guideline Value for SABARI GARDEN

Sabari Garden guideline value

The current guideline value of Sabari Garden, located in Vengaivasal village under the Selaiyur SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - II land classification.

How the guideline value of Sabari Garden has changed

The guideline value for Sabari Garden has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,500 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,005 per sq.ft, marking a drop of 33%. The value then increased significantly to Rs 1,500 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,650 per sq.ft in the 2024 revision, reflecting a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Sabari Garden is below this median.

• Royal Garden: Rs 3,300 per sq.ft (2024)
• R.G. Nagar: Rs 2,700 per sq.ft (2024)
• Saminathapuram: Rs 2,700 per sq.ft (2024)
• Rangarajapuarm: Rs 2,700 per sq.ft (2024)
• Santhosapuram: Rs 2,700 per sq.ft (2024)
• Santhosapuram Veeramamunivar Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sabari Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty, charged at 7%, would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000. Together, the total cost for stamp duty and registration would be Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sabari Garden?

Sabari Garden falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Vengaivasal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the revenue collected by the government reflects the current market conditions and property values in the area.

Frequently asked questions

What is the current guideline value of Sabari Garden?

The current guideline value of Sabari Garden is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What are the other streets in Vengaivasal and their guideline values?

Other streets in Vengaivasal include Royal Garden at Rs 3,300 per sq.ft, R.G. Nagar, Saminathapuram, Rangarajapuarm, Santhosapuram, and Santhosapuram Veeramamunivar Street, all at Rs 2,700 per sq.ft in 2024.

How is the stamp duty calculated for properties in Sabari Garden?

Stamp duty for properties in Sabari Garden is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500.

Where is the Sub Registrar Office for Sabari Garden located?

The Sub Registrar Office covering Sabari Garden is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.