Guideline Value for Sabapathy Nagar

Sabapathy Nagar guideline value

The current guideline value of Sabapathy Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Kolapakkam village under the Pammal Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Sabapathy Nagar has changed

The guideline value for Sabapathy Nagar has seen significant changes over the years. The 2017 revision recorded a value of Rs 1,675 per sq.ft, which increased to Rs 2,500 per sq.ft in the 2023 revision, marking a 49% increase. The current revision for 2024 shows a further increase of 10%, bringing the guideline value to Rs 2,750 per sq.ft.

There are no figures available for the revisions from 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 6,850 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Sabapathy Nagar is above this median.

• Samima Nagar: Rs 1,650 per sq.ft (2024)
• Ramamoorthy Avenue Extn.: Rs 2,750 per sq.ft (2024)
• Ramamoorthi Avenue: Rs 2,750 per sq.ft (2024)
• Ramakrishna Nagar Avenue: Rs 2,750 per sq.ft (2024)
• Ramakrishna Nagar Annex: Rs 3,290 per sq.ft (2024)
• Ramakrishna Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sabapathy 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, charged at 7%, would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees 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 the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sabapathy Nagar?

Sabapathy Nagar falls under the jurisdiction of 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 Kolapakkam

The guideline value is a critical factor in the registration of property transactions in Kolapakkam. It serves as a base for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is used to determine the official value of the property for registration purposes. This value helps in standardizing the transaction process and provides a reference point for both buyers and sellers.

Frequently asked questions

What is the current guideline value of Sabapathy Nagar?

The current guideline value of Sabapathy 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 increased from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the other streets in Kolapakkam and their guideline values?

Other streets in Kolapakkam include Samima Nagar at Rs 1,650 per sq.ft, Ramamoorthy Avenue Extn., Ramamoorthi Avenue, Ramakrishna Nagar Avenue, and Ramakrishna Nagar, all at Rs 2,750 per sq.ft, and Ramakrishna Nagar Annex at Rs 3,290 per sq.ft.

What fees are associated with buying property in Sabapathy Nagar?

The fees for buying property include a stamp duty of 7% and a registration fee of 2% on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sabapathy Nagar?

The Sub Registrar Office covering Sabapathy Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more details through the provided link.