Guideline Value for SABARI NAGAR

Sabari Nagar guideline value

The current guideline value of Sabari Nagar, a village in Mangadu -A under the Kunrathur SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Sabari Nagar has changed

The guideline value of Sabari Nagar has seen significant changes over the years. In the 2017 revision, the value was Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,870 per sq.ft, placing Sabari Nagar's 2024 figure above that median.

• Sakthi Nagar: Rs 1,870 per sq.ft (2024)
• Sakthi Nagar Annexe: Rs 1,870 per sq.ft (2024)
• Sakthi Nagar Annexe Phase I: Rs 1,870 per sq.ft (2024)
• Sakthi Nagar IIIrd Street: Rs 1,870 per sq.ft (2024)
• Sakthi Nagar IInd Street: Rs 1,870 per sq.ft (2024)
• Sakthi Nagar Ist Street: Rs 1,870 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sabari Nagar?

Sabari Nagar falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is a critical factor when registering property transactions in Mangadu -A. It serves as a benchmark for determining the stamp duty and registration fees, which are mandatory during the sale or purchase of property.

When a property is sold or bought, the guideline value is considered to ensure that the transaction is registered at a fair value. This helps in maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Sabari Nagar?

The current guideline value of Sabari Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From 2017 to 2024, the guideline value has increased by 64%, moving from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft.

What is the stamp duty rate for properties in Sabari Nagar?

The stamp duty rate for properties in Sabari Nagar is 7%, which is applied to the higher of the guideline value or the sale price.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the median guideline value for streets in Mangadu -A?

The median guideline value for streets in Mangadu -A is Rs 1,870 per sq.ft, with Sabari Nagar's 2024 figure being above this median.