Guideline Value for Sababathi Nagar Main

Sababathi Nagar Main guideline value

The current guideline value of Sababathi Nagar Main 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 Main has changed

The guideline value for Sababathi Nagar Main has undergone several revisions over the years. The earliest recorded figure is Rs 222 per sq.ft in 2003, which increased significantly to Rs 900 per sq.ft in 2007. Following this, the value rose dramatically to Rs 3,000 per sq.ft in 2012, but then saw a decrease to Rs 2,010 per sq.ft in 2017. The value increased again to Rs 3,000 per sq.ft in 2023, and finally reached Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

Between the revisions, notable changes include a 305% increase from 2003 to 2007, a 233% increase from 2007 to 2012, and a 49% increase from 2017 to 2023. Overall, from 2003 to 2024, the guideline value has increased by 1386%. The register has no figure for the year 2002 for this street.

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, with a median value of Rs 3,300 per sq.ft. The guideline value for Sababathi Nagar Main is equal to this median.

• Sababathi Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Sababathi Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Sababathi Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Sababathi Nagar 1st Street: 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 Main

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 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sababathi Nagar Main?

The Sub Registrar Office that covers Sababathi Nagar Main 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 details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Moovarasampattu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration. This ensures that the transaction is compliant with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Sababathi Nagar Main?

The current guideline value of Sababathi Nagar Main 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 222 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting significant increases and a few decreases over the years.

What is the registration fee for property in Sababathi Nagar Main?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 33,00,000, the registration fee would be Rs 66,000.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated at 7% of the higher value between the guideline value and the sale price. This ensures that the appropriate duty is collected during the registration process.