Guideline Value for Sabari Nagar 1st Lane

Sabari Nagar 1st Lane guideline value

The current guideline value of Sabari Nagar 1st Lane is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Porur village under the Kunrathur SRO and is classified as Residential Special Type - II.

How the guideline value of Sabari Nagar 1st Lane has changed

The guideline value for Sabari Nagar 1st Lane has seen several revisions over the years. In 2012, the value was Rs 3,200 per sq.ft, which decreased to Rs 2,144 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 3,200 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 3,520 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median guideline value for these streets is Rs 3,960 per sq.ft, which means the guideline value of Sabari Nagar 1st Lane is below this median.

• Sabari Nagar 1st Street Lane: Rs 3,520 per sq.ft (2024)
• Sabari Nagar IIIrd Street: Rs 3,520 per sq.ft (2024)
• Sabari Nagar Iind Lane: Rs 3,520 per sq.ft (2024)
• Sabari Nagar IInd Street: Rs 3,520 per sq.ft (2024)
• Sabari Nagar Ivth Street: Rs 3,520 per sq.ft (2024)
• Sabari Nagar: Rs 6,380 per sq.ft (2024)

Stamp duty and registration fee for property in Sabari Nagar 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total costs together to Rs 3,16,800. It is essential to note that duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sabari Nagar 1st Lane?

The Sub Registrar Office that covers Sabari Nagar 1st Lane is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Porur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. These fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is necessary to pay the stamp duty and registration fees based on the guideline value. This ensures that all transactions are recorded accurately and that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Sabari Nagar 1st Lane?

The current guideline value of Sabari Nagar 1st Lane is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,200 per sq.ft in 2012 to Rs 2,144 per sq.ft in 2017, then increased to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,520 per sq.ft in 2024.

What is the land classification of Sabari Nagar 1st Lane?

Sabari Nagar 1st Lane is classified as Residential Special Type - II.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Sabari Nagar 1st Lane?

The Sub Registrar Office for Sabari Nagar 1st Lane is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.