Guideline Value for Sabari Nagar Vth Street

Sabari Nagar Vth Street guideline value

The current guideline value for Sabari Nagar Vth Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Porur village and falls under the Kunrathur SRO with a land classification of Residential Special Type - II.

How the guideline value of Sabari Nagar Vth Street has changed

The guideline value for Sabari Nagar Vth Street has seen several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 3,200 per sq.ft. This value remained until the next revision in 2017, where it dropped to Rs 2,144 per sq.ft, reflecting a decrease 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 set the guideline value at Rs 3,520 per sq.ft, marking a 10% increase from the previous year’s figure of Rs 3,200 per sq.ft.

It is important to note that there are no recorded figures for the years 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 that carry a guideline value for 2024, ranging from Rs 2,860 to Rs 6,380 per sq.ft, with a median value of Rs 3,960 per sq.ft. The guideline value for Sabari Nagar Vth Street is below this median.

• Sabari Nagar Ivth Street: Rs 3,520 per sq.ft (2024)
• 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 1st Street Lane: Rs 3,520 per sq.ft (2024)
• Sabri Nagar IIIrd Cross Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Sabari Nagar Vth 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, making the total cost Rs 3,16,800. It is essential to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sabari Nagar Vth Street?

The Sub Registrar Office that covers Sabari Nagar Vth Street 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 Porur

The guideline value is a crucial factor in property transactions in Porur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions are conducted transparently and fairly.

During the registration process, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Sabari Nagar Vth 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 3,200 per sq.ft in 2023 to Rs 3,520 per sq.ft in 2024, reflecting a 10% increase. It was Rs 2,144 per sq.ft in 2017, showing a significant increase of 49% to 2023.

What are the stamp duty rates for properties in Sabari Nagar Vth Street?

The stamp duty for properties in Sabari Nagar Vth Street is charged at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400.

Which office handles registrations for Sabari Nagar Vth Street?

The Kunrathur Sub Registrar Office handles registrations for Sabari Nagar Vth Street. The office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Sabari Nagar Vth Street?

Sabari Nagar Vth Street is classified as Residential Special Type - II, indicating its suitability for residential development.