Guideline Value for Sabapathy Nagar

Sabapathy Nagar guideline value

The current guideline value of Sabapathy Nagar is Rs 2,860 per sq.ft, effective from 1 July 2024. This locality is situated in Thiruneermalai village under the Pammal SRO, and it falls under the Commercial Class I Type - I land classification.

How the guideline value of Sabapathy Nagar has changed

The guideline value of Sabapathy Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 312 per sq.ft, which increased to Rs 350 per sq.ft in 2007. Following that, the value surged to Rs 1,742 per sq.ft in 2017, marking a remarkable increase of 398%. The 2023 revision set the value at Rs 2,600 per sq.ft, which represented a 49% increase from the previous figure. The current value of Rs 2,860 per sq.ft in 2024 reflects a 10% rise from the 2023 revision.

There are no figures available for the revisions in 2002 and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by 817%, highlighting the substantial growth over the years.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a guideline value for 2024, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value is Rs 2,420 per sq.ft, making Sabapathy Nagar's 2024 figure above this median.

• Sakthi Nagar: Rs 2,420 per sq.ft (2024)
• Rashiktha Street: Rs 1,980 per sq.ft (2024)
• Rangaswamy 2nd Street: Rs 2,200 per sq.ft (2024)
• Rangaswamy 1st Street: Rs 2,200 per sq.ft (2024)
• Sangam Road: Rs 2,420 per sq.ft (2024)
• Ranga Nagar Main Road: Rs 2,420 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 2,860 per sq.ft, the total guideline value amounts to Rs 28,60,000. The stamp duty, charged at 7%, would be Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, bringing the total cost to Rs 2,57,400. Duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sabapathy Nagar?

The Sub Registrar Office that covers Sabapathy Nagar 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 Thiruneermalai

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruneermalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and in accordance with government regulations.

When a property is sold, the guideline value aids in calculating the applicable stamp duty and registration fees. These charges are based on the guideline value or the sale price, whichever is higher, ensuring that the state collects appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sabapathy Nagar?

The current guideline value of Sabapathy Nagar is Rs 2,860 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 312 per sq.ft in 2003 to Rs 2,860 per sq.ft in 2024, showing an overall increase of 817% over this period.

What is the land classification of Sabapathy Nagar?

Sabapathy Nagar falls under the Commercial Class I Type - I land classification, indicating its suitability for commercial activities.

What are the stamp duty and registration fees for property in Sabapathy Nagar?

For a property valued at Rs 28,60,000, the stamp duty would be Rs 2,00,200 and the registration fee would be Rs 57,200, totaling Rs 2,57,400.

Which office handles the registration for Sabapathy Nagar?

The Pammal Sub Registrar Office handles the registration for Sabapathy Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.