Guideline Value for Sabapathy Street

Sabapathy Street guideline value

The current guideline value of Sabapathy Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Aminjikarai village and falls under the AnnaNagar SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Sabapathy Street has changed

The guideline value of Sabapathy Street has seen several revisions over the years. In 2002, the value was Rs 650 per sq.ft. This increased to Rs 1,150 per sq.ft in 2007, marking a significant rise of 77%. The value then rose dramatically to Rs 4,000 per sq.ft in 2012, an increase of 248%. However, it decreased to Rs 2,680 per sq.ft in 2017, reflecting a drop of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, and finally reached Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

The register has no figure for the year 2003. Overall, from 2002 to 2024, the guideline value has increased by 577%.

Guideline values in Aminjikarai

Aminjikarai has a total of 99 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is equal to the current value of Sabapathy Street.

• R.V. Nagar Main Road: Rs 6,600 per sq.ft (2024)
• R.V. Nagar Ist 2nd, 3rd Street, 4th street (D Block): Rs 6,600 per sq.ft (2024)
• R.V. Nagar 3rd Cross Street: Rs 6,600 per sq.ft (2024)
• R.V. Nagar 2nd Cross Street: Rs 6,600 per sq.ft (2024)
• R.V. Nagar 1st Cross Street: Rs 6,600 per sq.ft (2024)
• Sannadhi Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sabapathy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty, charged at 7%, would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost for these fees would be Rs 3,96,000. 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 Street?

The Sub Registrar Office that covers Sabapathy Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Aminjikarai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is sold, the guideline value is used to calculate the necessary fees, ensuring that the transaction is compliant with state regulations. Buyers and sellers should always refer to the latest guideline values to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Sabapathy Street?

The current guideline value of Sabapathy Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 577% over the years.

What is the land classification for Sabapathy Street?

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

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles the registration for Sabapathy Street?

The registration for Sabapathy Street is handled by the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.