Guideline Value for Sabari Nagar Extension Part III

Sabari Nagar Extension Part III guideline value

The current guideline value of Sabari Nagar Extension Part III is Rs 2,970 per sq.ft. This area is located in Mogalivakkam village and falls under the Kunrathur SRO. The land classification for this region is Residential Special Type - I.

How the guideline value of Sabari Nagar Extension Part III has changed

The guideline value for Sabari Nagar Extension Part III has undergone several revisions over the years. In 2012, the value was set at Rs 2,700 per sq.ft, which was then reduced to Rs 1,809 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,700 per sq.ft in 2023, and most recently, it has risen to Rs 2,970 per sq.ft in the 2024 revision.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase, bringing the overall change from 2012 to 2024 to a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mogalivakkam

In Mogalivakkam, there are 98 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median value is Rs 2,970 per sq.ft, which is the same as the guideline value for Sabari Nagar Extension Part III.

• Sabari Nagar Extension: Rs 2,970 per sq.ft (2024)
• Sabari Nagar: Rs 2,970 per sq.ft (2024)
• Sahaj Enclave Extension: Rs 3,400 per sq.ft (2024)
• Sahaj Enclave/phase to 1 to IV: Rs 2,970 per sq.ft (2024)
• R.G.L. Colony Phase III: Rs 2,970 per sq.ft (2024)
• Santhosh Nagar & Extension: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Sabari Nagar Extension Part III

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total cost to Rs 2,67,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sabari Nagar Extension Part III?

The Sub Registrar Office that covers Sabari Nagar Extension Part III is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Mogalivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered along with the sale price. The higher of the two amounts is used to calculate the stamp duty, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sabari Nagar Extension Part III?

The current guideline value of Sabari Nagar Extension Part III is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2012 to Rs 1,809 per sq.ft in 2017, then increased to Rs 2,700 per sq.ft in 2023, and finally to Rs 2,970 per sq.ft in 2024.

What is the land classification for Sabari Nagar Extension Part III?

The land classification for Sabari Nagar Extension Part III is Residential Special Type - I.

Where can I find the Sub Registrar Office for Sabari Nagar Extension Part III?

The Sub Registrar Office for Sabari Nagar Extension Part III is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for property transactions in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 29,70,000 would incur a stamp duty of Rs 2,07,900 at 7%.