Guideline Value for Sabari Nagar

Sabari Nagar guideline value

The current guideline value of Sabari Nagar, located in Vallam village under the Chengleput Joint I SRO, is Rs 850 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sabari Nagar has changed

The guideline value of Sabari Nagar has seen several revisions over the years. In 2007, the value was Rs 180 per sq.ft, which increased significantly to Rs 850 per sq.ft in 2012. However, it dropped to Rs 569 per sq.ft in 2017 before rising again to Rs 850 per sq.ft in both the 2023 and 2024 revisions. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%, while the value remained unchanged from 2023 to 2024. The overall change from the 2007 revision to the 2024 revision is an impressive 372% increase, reflecting the fluctuations in the guideline value over the years.

Guideline values in Vallam

In Vallam, there are 30 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 750 to Rs 1,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. The guideline value of Sabari Nagar is below this median.

• Rajeswari Avenue: Rs 1,000 per sq.ft (2024)
• School Street: Rs 750 per sq.ft (2024)
• Rajarathinapuram: Rs 1,000 per sq.ft (2024)
• Selvam Nagar: Rs 800 per sq.ft (2024)
• Shanthi Nagar: Rs 1,000 per sq.ft (2024)
• Preethi Nagar: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in Sabari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 850 per sq.ft, the total guideline value would be Rs 8,50,000. The stamp duty at 7% would amount to Rs 59,500, and the registration fee at 2% would be Rs 17,000, bringing the total cost for these fees to Rs 76,500. It is important to note that 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 details.

Which Sub Registrar Office covers Sabari Nagar?

The Sub Registrar Office that covers Sabari Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Vallam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in a property transaction, it is essential to be aware of the guideline value, as it directly affects the financial obligations involved in the registration process. Buyers and sellers should ensure that they are informed about the current guideline values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sabari Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 180 per sq.ft in 2007 to Rs 850 per sq.ft in 2012, then dropping to Rs 569 per sq.ft in 2017, and remaining at Rs 850 per sq.ft in both 2023 and 2024.

What is the land classification for Sabari Nagar?

The land classification for Sabari Nagar is Residential Class I Type - I.

What are the stamp duty and registration fees for property in Sabari Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 8,50,000. The stamp duty at 7% is Rs 59,500, and the registration fee at 2% is Rs 17,000, totaling Rs 76,500 for these fees.

Which office handles the registration for Sabari Nagar?

The Chengleput Joint I Sub Registrar Office handles the registration for Sabari Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.