Guideline Value for Sabapathi Mudali Street

Sabapathi Mudali Street guideline value

The current guideline value of Sabapathi Mudali Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Sabapathi Mudali Street has changed

The guideline value for Sabapathi Mudali Street has seen several revisions over the years. In 2002, the guideline value was Rs 764 per sq.ft, which increased to Rs 828 per sq.ft in 2003. The value then rose to Rs 1,000 per sq.ft in 2007, followed by a significant jump to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017. The 2023 revision set the value at Rs 2,500 per sq.ft, and the most recent revision in 2024 increased it to Rs 2,700 per sq.ft.

From 2017 to 2023, there was a notable increase of 49%, while the jump from 2023 to 2024 was 8%. The value saw a dramatic change from 2007 to 2012 with a 150% increase. Overall, from 2002 to 2024, the guideline value has increased by 253%. The register does not have figures for years other than those mentioned.

Guideline values in Sembiam

In Sembiam village, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, which is equal to the current guideline value of Sabapathi Mudali Street.

• Sakheeswaran Nagar: Rs 2,200 per sq.ft (2024)
• Samudeeswari Nagar: Rs 1,900 per sq.ft (2024)
• Sathiyanarayanan Street: Rs 2,700 per sq.ft (2024)
• Seethapathi Street: Rs 1,900 per sq.ft (2024)
• Rajavelu Mudali Street: Rs 2,200 per sq.ft (2024)
• Raja Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sabapathi Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sabapathi Mudali Street?

The Sub Registrar Office that covers Sabapathi Mudali Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sembiam. It determines the minimum value at which a property can be registered, ensuring that transactions are recorded accurately in the official register.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Sabapathi Mudali Street?

The current guideline value of Sabapathi Mudali Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 764 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting a total increase of 253% over the years.

What is the land classification for Sabapathi Mudali Street?

Sabapathi Mudali Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Sabapathi Mudali Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at 7%.