Guideline Value for Sabari Nagar

Sabari Nagar guideline value

The current guideline value of Sabari Nagar, located in Chembakkam village under the Selaiyur SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Sabari Nagar has changed

The guideline value for Sabari Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, and the latest revision in 2024 has raised it further to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

In summary, the changes between the revisions are as follows: from 2012 to 2017, there was a decrease of 33%, followed by a substantial increase of 49% from 2017 to 2023. Overall, the guideline value has increased by 8% from 2012 to 2024. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with the 2024 guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Sabari Nagar's 2024 figure above this median.

• Sadasivam Nagar 1st Street: Rs 1,100 per sq.ft (2024)
• Sadasivam Nagar 2nd Street: Rs 1,100 per sq.ft (2024)
• Sadhasivam Nagar: Rs 1,100 per sq.ft (2024)
• Sadhasivam Nagar 1st Cross Street: Rs 1,100 per sq.ft (2024)
• Sadhasivam Nagar 2nd Cross Street: Rs 1,100 per sq.ft (2024)
• Sadhasivam Nagar 3rd Street: Rs 1,100 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 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty, charged at 7%, would be Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for these fees would be Rs 2,43,000. 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?

Sabari Nagar falls under the jurisdiction of the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opposite to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Chembakkam

The guideline value plays a crucial role during the registration of property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Sabari Nagar?

The current guideline value of Sabari Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, which is an increase of 8%. From 2017 to 2023, it increased by 49%, while it decreased by 33% from 2012 to 2017.

What is the land classification of Sabari Nagar?

Sabari Nagar is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opposite to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Sabari Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the stamp duty would be Rs 1,89,000.