Guideline Value for SABTHAGIRI NAGAR

Sabthagiri Nagar guideline value

The current guideline value of Sabthagiri Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the village of Sholinganallur - 1 and is classified as Residential Class II Type - III by the Neelankarai SRO.

How the guideline value of Sabthagiri Nagar has changed

In the 2023 revision, the guideline value was set at Rs 2,000 per sq.ft. The most recent revision in 2024 saw an increase of 10%, bringing the current guideline value to Rs 2,200 per sq.ft. There are no figures available for the revisions in the years 2017, 2012, 2007, 2003, and 2002 for this street.

The change from 2023 to 2024 reflects a significant adjustment in the guideline value, indicating a shift in the valuation of properties in this area. The 2024 figure aligns with the median guideline value of Rs 2,200 per sq.ft for the village of Sholinganallur - 1.

Guideline values in Sholinganallur - 1

Within the village of Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with 2024 guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is the same as the guideline value for Sabthagiri Nagar.

• Sadaiyandi Street (Grama Nedunchalai 30th Cross Street): Rs 2,200 per sq.ft (2024)
• Sai Baba Garden: Rs 2,800 per sq.ft (2024)
• Sai Illam: Rs 3,300 per sq.ft (2024)
• Sailaja Garden: Rs 1,700 per sq.ft (2024)
• Sailendrakumar Garden: Rs 1,700 per sq.ft (2024)
• Royal Eternity: Rs 5,800 per sq.ft (2024)

Stamp duty and registration fee for property in Sabthagiri 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, resulting in a total of Rs 1,98,000. It is important to note that the 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 Sabthagiri Nagar?

The Sub Registrar Office that covers Sabthagiri Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor during the registration of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory expenses for any property transaction. This ensures that both buyers and sellers are aware of the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Sabthagiri Nagar?

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

How has the guideline value changed over the years?

The guideline value changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the revisions in 2017, 2012, 2007, 2003, and 2002 for this street.

What is the land classification for Sabthagiri Nagar?

Sabthagiri Nagar is classified as Residential Class II Type - III, indicating its designation for residential purposes within the local planning framework.

What are the stamp duty rates for properties in Sabthagiri Nagar?

The stamp duty for properties in Sabthagiri Nagar is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where can I find the Sub Registrar Office for Sabthagiri Nagar?

The Neelankarai Sub Registrar Office covers Sabthagiri Nagar and is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.