Guideline Value for Sabapathy Nagar (2nd Street)

Sabapathy Nagar (2nd Street) guideline value

The current guideline value of Sabapathy Nagar (2nd Street) is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Sabapathy Nagar (2nd Street) has changed

The guideline value for Sabapathy Nagar (2nd Street) has undergone several revisions over the years. In 2002, the value was Rs 143 per sq.ft, which increased to Rs 162 per sq.ft in 2003, marking a change of +13%. The value then rose significantly to Rs 260 per sq.ft in 2007, a change of +60%. By 2017, the guideline value reached Rs 1,206 per sq.ft, reflecting a substantial increase of +364%. The 2023 revision set the value at Rs 1,800 per sq.ft, which was a +49% change from the previous revision. The latest revision in 2024 has increased the guideline value to Rs 1,980 per sq.ft, a rise of +10% from 2023.

It is important to note that there was no figure for this street in the 2012 revision. Overall, from 2002 to 2024, the guideline value has increased by +1285%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. The guideline value of Sabapathy Nagar (2nd Street) is below this median.

• Sabapathy Nagar (1st 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 (2nd 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, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. 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 Sabapathy Nagar (2nd Street)?

The Sub Registrar Office that covers Sabapathy Nagar (2nd 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 information.

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

The guideline value is an essential factor in property transactions in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring that the transaction is compliant with local regulations.

When registering a property, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This means that if the sale price exceeds the guideline value, the stamp duty will be calculated on the sale price instead.

Frequently asked questions

What is the current guideline value of Sabapathy Nagar (2nd Street)?

The current guideline value of Sabapathy Nagar (2nd Street) is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 143 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, reflecting a total increase of +1285% over the years.

What are the other streets with the same guideline value in Pammal?

Other streets in Pammal with the same guideline value of Rs 1,980 per sq.ft include Sabapathy Nagar (1st Street), Sabapathy Nagar (3rd Street), Sabapathy Nagar (4th Street), Sabapathy Street / Lord Srinivasa Street, Sabapathy Street, Nehru Nagar, and Sabapathy Street / Thiru Nagar.

Where can I find the Sub Registrar Office for Sabapathy Nagar (2nd Street)?

The Sub Registrar Office for Sabapathy Nagar (2nd Street) is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. This office is part of the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Pammal?

Stamp duty for properties in Pammal is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the fees paid are in accordance with local regulations.