Guideline Value for Sabari Nagar 2nd Street

Sabari Nagar 2nd Street guideline value

The current guideline value of Sabari Nagar 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO and is classified as Residential Class II Type - III.

How the guideline value of Sabari Nagar 2nd Street has changed

In the 2012 revision, the guideline value for Sabari Nagar 2nd Street was Rs 3,500 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded a value of Rs 3,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 3,850 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the revisions in 2002, 2003, 2007, and 2017 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of Sabari Nagar 2nd Street is below this median.

• Sabari Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Sabari Nagar: Rs 3,850 per sq.ft (2024)
• Sachidananada Nagar Anaga Street: Rs 3,850 per sq.ft (2024)
• Sachidananada Nagar Datha Street: Rs 3,850 per sq.ft (2024)
• Sachidananada Nagar Main Salai: Rs 3,850 per sq.ft (2024)
• Sachidanandam Nagar: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Sabari Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total fees together Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sabari Nagar 2nd Street?

The Sub Registrar Office that covers Sabari Nagar 2nd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Sabari Nagar 2nd Street?

The current guideline value of Sabari Nagar 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2012 to 2024?

From the 2012 revision to the 2024 revision, the guideline value has increased by 10%, from Rs 3,500 per sq.ft to Rs 3,850 per sq.ft.

What are the guideline values for other streets in Velachery?

Other streets in Velachery under the Velacheri SRO have a guideline value of Rs 3,850 per sq.ft in 2024, including Sabari Nagar 1st Street, Sabari Nagar, and several streets in Sachidananada Nagar.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Sabari Nagar 2nd Street?

Stamp duty for properties in Sabari Nagar 2nd Street is calculated based on the higher of the guideline value or the sale price. For example, if the guideline value is Rs 38,50,000, the stamp duty would be calculated at 7% of this amount.