Guideline Value for Sababathi Nagar 3rd Street

Sababathi Nagar 3rd Street guideline value

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

How the guideline value of Sababathi Nagar 3rd Street has changed

The guideline value for Sababathi Nagar 3rd Street has seen several revisions over the years. In 2002, the register listed the value at Rs 202 per sq.ft. This increased to Rs 222 per sq.ft in 2003, followed by a significant rise to Rs 900 per sq.ft in 2007. The value then jumped to Rs 3,000 per sq.ft in 2012, but experienced a decrease to Rs 2,010 per sq.ft in 2017. The value rose again to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision.

Notable changes between these revisions include a 10% increase from 2023 to 2024, a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a 233% increase from 2007 to 2012, and a remarkable 305% increase from 2003 to 2007. Overall, from 2002 to 2024, the guideline value has increased by 1534%.

Guideline values in Moovarasampattu

In Moovarasampattu village, 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 value is Rs 3,300 per sq.ft, which is equal to the 2024 figure for Sababathi Nagar 3rd Street.

• Sababathi Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Sababathi Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Sababathi Nagar 1st 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 3rd 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, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for your calculations.

Which Sub Registrar Office covers Sababathi Nagar 3rd Street?

The Sub Registrar Office that covers Sababathi Nagar 3rd 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 plays a crucial role 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 documented at a fair value.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sababathi Nagar 3rd Street?

The current guideline value of Sababathi Nagar 3rd 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 increased significantly 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 is the land classification for Sababathi Nagar 3rd Street?

Sababathi Nagar 3rd Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

For a 1,000 sq.ft plot at the current guideline value, the total 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 3rd Street located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061, and it covers Sababathi Nagar 3rd Street.