Guideline Value for SABARI NAGAR

Sabari Nagar guideline value

The current guideline value of Sabari Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Sabari Nagar has changed

The guideline value for Sabari Nagar has undergone several revisions since 2002. In 2002, the guideline value was Rs 115 per sq.ft, which increased to Rs 136 per sq.ft in 2003, marking an increase of 18%. The value then saw a significant rise to Rs 400 per sq.ft in 2007, representing a 194% increase. Following this, the guideline value jumped to Rs 1,200 per sq.ft in 2012, reflecting a remarkable 200% increase from the previous revision.

The most recent revision in 2024 set the guideline value at Rs 1,320 per sq.ft, which is a 10% increase from the 2012 figure. Overall, from 2002 to 2024, the guideline value has increased by 1048%. It is important to note that there are no figures available for the revisions in 2017 and 2023 for this street.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Sabari Nagar's 2024 figure below this median.

• Sabari Nagar/ Shanthi Nagar: Rs 2,750 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty, charged at 7%, would be Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sabari Nagar?

Sabari Nagar falls under 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 more information.

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

The guideline value is a crucial factor during property transactions in Pallikaranai, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sabari Nagar?

The current guideline value of Sabari Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 115 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, showing an overall increase of 1048% over the years.

What are the other streets with guideline values in Pallikaranai?

Other streets in Pallikaranai include Sabari Nagar/ Shanthi Nagar at Rs 2,750 per sq.ft, Saibaba Colony at Rs 1,110 per sq.ft, and Sai Balaji Nagar (All Parts) at Rs 1,650 per sq.ft, among others.

What fees are associated with buying property in Sabari Nagar?

When purchasing property in Sabari Nagar, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Which office handles the registration for Sabari Nagar?

The registration for Sabari Nagar is handled by 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.