Guideline Value for Sabari Nagar Extension

Sabari Nagar Extension guideline value

The current guideline value of Sabari Nagar Extension, located in Mogalivakkam village under the Kunrathur SRO, is Rs 2,970 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Sabari Nagar Extension has changed

The guideline value for Sabari Nagar Extension has seen significant changes over the years. In 2007, the value was Rs 750 per sq.ft, which increased to Rs 2,700 per sq.ft in 2012, marking a substantial rise of 260%. However, from 2012 to 2017, the value decreased to Rs 1,809 per sq.ft, a drop of 33%. The value then rose to Rs 2,700 per sq.ft in 2023, reflecting an increase of 49%. The most recent revision in 2024 saw the value increase to Rs 2,970 per sq.ft, a 10% rise from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 296%.

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 equal to the current guideline value of Sabari Nagar Extension.

• Sabari Nagar Extension Part III: 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

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 be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total cost for these fees 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.

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

Which Sub Registrar Office covers Sabari Nagar Extension?

The Sabari Nagar Extension falls under the jurisdiction of 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 when registering property in Mogalivakkam. It determines the minimum value at which the property can be registered, ensuring that the transaction is documented at a fair value as per the government's assessment.

When buying or selling property, the guideline value serves as a benchmark for calculating the stamp duty and registration fees, which are essential components of the property transaction process. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sabari Nagar Extension?

The current guideline value of Sabari Nagar Extension 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 750 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, an overall increase of 296% over the years.

What is the land classification for Sabari Nagar Extension?

Sabari Nagar Extension is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles the registration of properties in the area.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 29,70,000, the total fees would be Rs 2,67,300.