Guideline Value for Sabapathy Street / Lord Srinivasa Street

Sabapathy Street / Lord Srinivasa Street guideline value

The current guideline value of Sabapathy Street / Lord Srinivasa 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, with a land classification of Residential Class II Type - II.

How the guideline value of Sabapathy Street / Lord Srinivasa Street has changed

The guideline value for Sabapathy Street / Lord Srinivasa Street has seen significant changes over the years. In 2002, the guideline value was Rs 174 per sq.ft. This increased to Rs 197 per sq.ft in 2003, marking a rise of 13%. The value then rose to Rs 260 per sq.ft in 2007, which was a 32% increase from the previous revision. Following this, the 2017 revision set the guideline value at Rs 1,206 per sq.ft, reflecting a substantial increase of 364% from 2007. The most recent revision in 2024 saw the guideline value reach Rs 1,980 per sq.ft, which is a 64% increase from 2017. Notably, there are no figures available for the years 2012 and 2023 for this street.

Overall, from 2002 to 2024, the guideline value has increased by 1,038%, showcasing a significant upward trend in the valuation of this street over the years.

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, positioning Sabapathy Street / Lord Srinivasa Street's 2024 figure below this median.

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

Stamp duty and registration fee for property in Sabapathy Street / Lord Srinivasa 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, leading to a total of Rs 1,78,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sabapathy Street / Lord Srinivasa Street?

The Sub Registrar Office that covers Sabapathy Street / Lord Srinivasa 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 a crucial factor in the registration process for property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered. When a buyer and seller agree on a sale price, the registration office will assess whether the sale price is higher or lower than the guideline value.

If the sale price is lower than the guideline value, the registration fees and stamp duty will be calculated based on the guideline value. This ensures that the property is registered at a value that reflects the established market standards, safeguarding the interests of both parties involved in the transaction.

Frequently asked questions

What is the current guideline value of Sabapathy Street / Lord Srinivasa Street?

The current guideline value of Sabapathy Street / Lord Srinivasa 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 changed significantly from Rs 174 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 1,038% over the years.

What is the land classification for Sabapathy Street / Lord Srinivasa Street?

Sabapathy Street / Lord Srinivasa Street is classified as Residential Class II Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Sabapathy Street / Lord Srinivasa Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for properties in Pammal?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 19,80,000, the stamp duty would be calculated accordingly.