Guideline Value for Sabapathi mudaliar street

Sabapathi mudaliar street guideline value

The current guideline value of Sabapathi Mudaliar Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Poonthamallee village and falls under the Poonamallee SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sabapathi mudaliar street has changed

The guideline value for Sabapathi Mudaliar Street has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, it then decreased to Rs 1,340 per sq.ft in 2017. The 2023 revision recorded a value of Rs 2,000 per sq.ft, and the latest revision in 2024 has set the value at Rs 2,200 per sq.ft. The revisions for the years 2002 and 2003 do not have figures available for this street.

From 2012 to 2017, there was a decrease of 33%, while the value jumped by 567% from 2007 to 2012. The increase from 2017 to 2023 was 49%, and the most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 633%.

Guideline values in Poonthamallee

In Poonthamallee, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which matches the current guideline value for Sabapathi Mudaliar Street.

• Rukmani nagar: Rs 3,250 per sq.ft (2024)
• Rosi Garden: Rs 2,200 per sq.ft (2024)
• RKV nagar: Rs 2,200 per sq.ft (2024)
• Sakthi nagar: Rs 3,250 per sq.ft (2024)
• Sakthi nagar (contonment backside): Rs 2,740 per sq.ft (2024)
• R.C.M. School Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sabapathi mudaliar street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total Rs 1,98,000. 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 details.

Which Sub Registrar Office covers Sabapathi mudaliar street?

The Sub Registrar Office that covers Sabapathi Mudaliar Street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Poonthamallee. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount based on the property's value as determined by the guideline register.

Frequently asked questions

What is the current guideline value of Sabapathi mudaliar street?

The current guideline value of Sabapathi Mudaliar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 633% over this period.

What is the land classification for Sabapathi mudaliar street?

Sabapathi Mudaliar Street is classified as Residential Class II Type - I according to the local land classification norms.

Where can I find the Sub Registrar Office for property registration?

The Sub Registrar Office for Sabapathi Mudaliar Street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is the stamp duty calculated for properties in Poonthamallee?

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 22,00,000, the stamp duty at 7% would be Rs 1,54,000.