Guideline Value for Sababathi Nagar 2nd Street

Sababathi Nagar 2nd Street guideline value

The current guideline value of Sababathi Nagar 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Moovarasampattu village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sababathi Nagar 2nd Street has changed

The guideline value for Sababathi Nagar 2nd Street has undergone several revisions over the years. In 2002, the value was Rs 202 per sq.ft, which increased to Rs 222 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 900 per sq.ft in 2007. However, it experienced a decrease to Rs 3,000 per sq.ft in 2012. The value then dropped further to Rs 2,010 per sq.ft in 2017, before climbing back to Rs 3,000 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft.

When examining the changes, from 2002 to 2024, the overall increase is +1534%. The change from 2017 to 2023 was +49%, while from 2012 to 2017, there was a decrease of -33%. The period from 2007 to 2012 saw an increase of +233%, and from 2003 to 2007, the value rose by +305%. The change from 2002 to 2003 was +10%. The revision register has no figures for years other than those listed.

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 2nd Street.

• Sababathi Nagar 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees 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. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Sababathi Nagar 2nd Street?

The Sub Registrar Office that covers Sababathi Nagar 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Moovarasampattu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately within the official records.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, maintaining transparency and accountability in real estate dealings.

Frequently asked questions

What is the current guideline value of Sababathi Nagar 2nd Street?

The current guideline value of Sababathi Nagar 2nd 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 from Rs 202 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +1534% over this period.

What are the other streets in Moovarasampattu with the same guideline value?

Other streets in Moovarasampattu with the same 2024 guideline value of Rs 3,300 per sq.ft include Sababathi Nagar 1st Street, Sababathi Nagar 3rd Street, Sababathi Nagar 4th Street, and Sababathi Nagar Main.

Where can I find the registration office for Sababathi Nagar 2nd Street?

The registration office for Sababathi Nagar 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Sababathi Nagar 2nd Street?

Stamp duty for properties in Sababathi Nagar 2nd Street is calculated at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.