Guideline Value for Sabapathy Nagar (1st Street)

Sabapathy Nagar (1st Street) guideline value

The current guideline value of Sabapathy Nagar (1st Street) is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Sabapathy Nagar (1st Street) has changed

The guideline value of Sabapathy Nagar (1st Street) has seen significant changes over the years. Starting from the 2002 revision, the value was Rs 143 per sq.ft. In 2003, it increased to Rs 162 per sq.ft, marking a 13% rise. The 2007 revision saw a substantial jump to Rs 260 per sq.ft, reflecting a 60% increase. By 2017, the value reached Rs 1,206 per sq.ft, which is a remarkable 364% increase from the previous revision. However, there is no figure available for this street in the 2012 revision.

The 2023 revision set the guideline value at Rs 1,800 per sq.ft, showing a 49% increase from 2017. The most recent revision in 2024 has further increased the value to Rs 1,980 per sq.ft, which is a 10% rise from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,285%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, indicating that the guideline value for Sabapathy Nagar (1st Street) is below the median.

• Sabapathy Nagar (2nd Street): Rs 1,980 per sq.ft (2024)
• Sabapathy Nagar (3rd Street): Rs 1,980 per sq.ft (2024)
• Sabapathy Nagar (4th Street): Rs 1,980 per sq.ft (2024)
• Sabapathy Street / Lord Srinivasa Street: Rs 1,980 per sq.ft (2024)
• Sabapathy Street, Nehru Nagar: Rs 1,980 per sq.ft (2024)
• Sabapathy Street / Thiru Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Sabapathy Nagar (1st Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Together, the total cost for stamp duty and registration fee would be Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sabapathy Nagar (1st Street)?

The Sub Registrar Office that covers Sabapathy Nagar (1st Street) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the sale. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Sabapathy Nagar (1st Street)?

The current guideline value of Sabapathy Nagar (1st Street) is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 143 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 1,285% over this period.

What are the stamp duty and registration fees for property in Sabapathy Nagar (1st Street)?

For a 1,000 sq.ft plot, the total guideline value is Rs 19,80,000. The stamp duty at 7% is Rs 1,38,600, and the registration fee at 2% is Rs 39,600, totaling Rs 1,78,200.

Which Sub Registrar Office covers Sabapathy Nagar (1st Street)?

The Pammal Sub Registrar Office covers Sabapathy Nagar (1st Street) and is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Sabapathy Nagar (1st Street)?

Sabapathy Nagar (1st Street) is classified as Residential Class II Type - II, indicating its designation for residential purposes.