Guideline Value for Sabapathi Nagar

Sabapathi Nagar guideline value

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

How the guideline value of Sabapathi Nagar has changed

Over the years, the guideline value of Sabapathi Nagar has seen several revisions. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, which is a significant increase from Rs 1,675 per sq.ft in the 2017 revision. In contrast, the 2012 revision recorded a guideline value of Rs 2,500 per sq.ft. It is important to note that there are no figures available for the revisions in 2023, 2007, 2003, and 2002 for this street.

When examining the changes, the guideline value increased by 64% from 2017 to 2024. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 10%.

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. The median guideline value in this area is Rs 2,400 per sq.ft, placing the Sabapathi Nagar street's current figure above that median.

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

Stamp duty and registration fee for property in Sabapathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total 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 cost for these fees to Rs 2,47,500. It is important to note that 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 more detailed calculations.

Which Sub Registrar Office covers Sabapathi Nagar?

The Sub Registrar Office that covers Sabapathi Nagar 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 property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling a property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

When you approach the registration office, the guideline value will be referenced to determine the fees. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sabapathi Nagar?

The current guideline value of Sabapathi Nagar 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 changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,750 per sq.ft in 2024. There are no figures available for the years 2023, 2007, 2003, and 2002 for this street.

What is the classification of land in Sabapathi Nagar?

Sabapathi Nagar is classified as Commercial Class I Type - I, which indicates its intended use for commercial activities.

What are the stamp duty rates for property in Sabapathi Nagar?

The stamp duty rate for property transactions in Sabapathi Nagar is 7% of the guideline value or the sale price, whichever is higher. This is in addition to a registration fee of 2%.

Which office handles property registrations for Sabapathi Nagar?

The Selaiyur Sub Registrar Office handles property registrations for Sabapathi Nagar, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.