Guideline Value for Sabari Nagar Ivth Street

Sabari Nagar Ivth Street guideline value

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

How the guideline value of Sabari Nagar Ivth Street has changed

The guideline value for Sabari Nagar Ivth Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,520 per sq.ft, reflecting a 10% increase from the 2023 revision of Rs 3,200 per sq.ft. Prior to that, in 2017, the value was Rs 2,144 per sq.ft, marking a significant increase of 49% to the 2023 figure. The 2012 revision also recorded a value of Rs 3,200 per sq.ft, which was a decrease of 33% from the 2017 figure. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. This indicates a gradual adjustment in the property valuation over the years, reflecting the changes in the local real estate landscape.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry 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, placing Sabari Nagar Ivth Street's 2024 value below this median.

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

Stamp duty and registration fee for property in Sabari Nagar Ivth Street

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 cost for these fees to Rs 3,16,800. Please note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sabari Nagar Ivth Street?

The Sabari Nagar Ivth Street 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 Porur

The guideline value plays a crucial role in the registration process when buying or selling property in Porur. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official property valuations set by the government.

When a property is registered, the higher value between the guideline value and the sale price is considered for duty calculations. This ensures that the state receives appropriate revenue from property transactions, reflecting the true value of the property in the market.

Frequently asked questions

What is the current guideline value of Sabari Nagar Ivth Street?

The current guideline value of Sabari Nagar Ivth Street 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 2,144 per sq.ft in 2017 to Rs 3,520 per sq.ft in 2024, with notable changes occurring in 2023 and 2012 as well.

What is the land classification for Sabari Nagar Ivth Street?

Sabari Nagar Ivth Street is classified as Residential Special Type - II, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for this street?

The Kunrathur Sub Registrar Office covers Sabari Nagar Ivth Street and is located at No.59, Road Street, Kundrathur, Chennai -600 069.

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

Stamp duty is calculated based on the higher value between the guideline value and the sale price. For example, a property valued at Rs 35,20,000 would incur a stamp duty of Rs 2,46,400 at 7%.