Guideline Value for Sabapathi Nagar 2nd Street

Sabapathi Nagar 2nd Street guideline value

The current guideline value of Sabapathi Nagar 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO and is classified as Commercial Class I Type - I.

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

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to the 2024 revision, the value increased significantly to Rs 2,750 per sq.ft, reflecting a rise of 64%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value of Sabapathi Nagar 2nd Street is above this median.

• Sabapathi Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Sabapathi Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Sabapathi Nagar 1st Main Road: Rs 1,900 per sq.ft (2024)
• Sabapathi Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Sabapathi Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Sabapathi Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sabapathi Nagar 2nd Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sabapathi Nagar 2nd Street?

The Sub Registrar Office that covers Sabapathi Nagar 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and standardization in property transactions.

When registering a property, 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 costs involved in the transaction based on the established guideline value.

Frequently asked questions

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

The current guideline value of Sabapathi Nagar 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes: it was Rs 2,500 per sq.ft in 2012, decreased to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,750 per sq.ft in 2024.

What is the land classification of Sabapathi Nagar 2nd Street?

Sabapathi Nagar 2nd Street is classified as Commercial Class I Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Sabapathi Nagar 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is stamp duty calculated for properties in Madambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 27,50,000, the stamp duty at 7% would be Rs 1,92,500.