Guideline Value for Sababathi Street

Sababathi Street guideline value

The current guideline value of Sababathi Street in Ullagaram village, under the Alandur SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Sababathi Street has changed

Since the 2002 revision, the guideline value for Sababathi Street has seen significant changes. In 2002, the guideline value was Rs 221 per sq.ft, which increased to Rs 248 per sq.ft in 2003, marking a rise of 12%. The value then surged dramatically to Rs 1,200 per sq.ft in 2007, representing a substantial increase of 384%. Following that, the value saw another increase to Rs 2,500 per sq.ft in 2012, which was a 108% rise from the previous figure. However, between 2012 and 2017, the value decreased to Rs 1,675 per sq.ft, reflecting a decline of 33%. The guideline value then increased to Rs 2,500 per sq.ft in 2023, and finally, it rose to Rs 2,800 per sq.ft in 2024, marking a 12% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1167%. There are no figures available for any revisions prior to 2002 or after 2024 for this street.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with the median value being Rs 2,800 per sq.ft. The guideline value for Sababathi Street is equal to this median.

• Sairam Street (SISI Colony): Rs 3,900 per sq.ft (2024)
• Rangan Nagar: Rs 2,800 per sq.ft (2024)
• Samy Nagar 1st Street: Rs 3,900 per sq.ft (2024)
• Samy Nagar 2nd Street: Rs 3,900 per sq.ft (2024)
• Samy Nagar 3rd Street: Rs 3,900 per sq.ft (2024)
• Samy Nagar Extension: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sababathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, while the registration fee at 2% would be Rs 56,000. Together, the total cost for stamp duty and registration would be Rs 2,52,000. 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Sababathi Street?

The Sub Registrar Office that covers Sababathi 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 Ullagaram

The guideline value is crucial during the registration process when buying or selling property. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid. Buyers and sellers should be aware that the guideline value may differ from the actual sale price of the property.

When registering a property, the authorities will use the guideline value to calculate the applicable fees, ensuring that the transaction is recorded accurately. It is essential for both parties to understand the implications of the guideline value in their property transactions.

Frequently asked questions

What is the current guideline value of Sababathi Street?

The current guideline value of Sababathi Street is Rs 2,800 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 221 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1167% over this period.

What is the land classification for Sababathi Street?

Sababathi Street falls under the Residential Class II Type - I land classification.

Where can I find the Sub Registrar Office for Sababathi Street?

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

How is stamp duty calculated for property transactions in Ullagaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.