Guideline Value for SABARI NAGAR/ SHANTHI NAGAR

Sabari Nagar/ Shanthi Nagar guideline value

The current guideline value for Sabari Nagar/ Shanthi Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO with a land classification of Residential Special Type - I.

How the guideline value of Sabari Nagar/ Shanthi Nagar has changed

In the 2012 revision, the guideline value for Sabari Nagar/ Shanthi Nagar was Rs 2,500 per sq.ft. The latest revision in 2024 saw an increase of 10%, bringing the value to Rs 2,750 per sq.ft. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

Comparing the revisions, the value increased from Rs 2,500 in 2012 to Rs 2,750 in 2024, marking a significant rise in the guideline value over this period. The absence of figures for the intervening years indicates that the value remained unchanged during those times.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value is Rs 1,650 per sq.ft, placing Sabari Nagar/ Shanthi Nagar's 2024 figure above the median.

• Sabari Nagar: Rs 1,320 per sq.ft (2024)
• Saibaba Colony: Rs 1,110 per sq.ft (2024)
• Sai Balaji Nagar (All Parts): Rs 1,650 per sq.ft (2024)
• Sai Balaji Nagar Extn.: Rs 1,320 per sq.ft (2024)
• Sai Balaji Nagar Main Road: Rs 1,320 per sq.ft (2024)
• Sai Ganesh Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sabari Nagar/ Shanthi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. Duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sabari Nagar/ Shanthi Nagar?

The Sub Registrar Office that covers Sabari Nagar/ Shanthi Nagar is the Chennai South Joint I 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 additional details.

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

The guideline value plays a crucial role in property transactions in Pallikaranai. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When registering a property, the guideline value is considered to ensure that the transaction is recorded accurately. It serves as a benchmark for assessing the value of the property being sold or purchased.

Frequently asked questions

What is the current guideline value for Sabari Nagar/ Shanthi Nagar?

The current guideline value for Sabari Nagar/ Shanthi Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 2,500 per sq.ft in 2012 to Rs 2,750 per sq.ft in 2024, which is an increase of 10%. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the median guideline value in Pallikaranai?

The median guideline value in Pallikaranai is Rs 1,650 per sq.ft. Sabari Nagar/ Shanthi Nagar's current guideline value is above this median.

What are the stamp duty and registration fees for a property in Sabari Nagar/ Shanthi Nagar?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500. Duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Sabari Nagar/ Shanthi Nagar located?

The Sub Registrar Office for Sabari Nagar/ Shanthi Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.