Guideline Value for Sababathi Nagar 1st Street

Sababathi Nagar 1st Street guideline value

The current guideline value of Sababathi Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Moovarasampattu village, under the Alandur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sababathi Nagar 1st Street has changed

The guideline value for Sababathi Nagar 1st Street has seen several revisions over the years. In 2002, the guideline value was Rs 202 per sq.ft. This increased to Rs 222 per sq.ft in 2003, marking a 10% rise. The value then experienced significant growth, reaching Rs 900 per sq.ft in 2007, which was a 305% increase. By 2012, the value remained at Rs 3,000 per sq.ft, reflecting no change in the register for that year.

In 2017, the guideline value increased to Rs 2,010 per sq.ft, showing a decrease of 33% from the previous figure. The value then rose to Rs 3,000 per sq.ft in 2023, followed by another increase to Rs 3,300 per sq.ft in 2024, which is a 10% rise from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,534%.

Guideline values in Moovarasampattu

In Moovarasampattu, there are 68 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current value of Sababathi Nagar 1st Street.

• Sababathi Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Sababathi Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Sababathi Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Sababathi Nagar Main: Rs 3,300 per sq.ft (2024)
• Raghava Nagar Mayana Road: Rs 4,400 per sq.ft (2024)
• Raghava nagar Kuttai Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sababathi Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sababathi Nagar 1st Street?

The Sub Registrar Office that covers Sababathi Nagar 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Moovarasampattu. It serves as a benchmark for determining the minimum value of properties during registration. Buyers and sellers must consider this value 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 Sababathi Nagar 1st Street?

The current guideline value of Sababathi Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 202 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 1,534% over the years.

What is the land classification of Sababathi Nagar 1st Street?

Sababathi Nagar 1st Street is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Sababathi Nagar 1st Street located?

The Sub Registrar Office for Sababathi Nagar 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.