Guideline Value for Sabari Nagar

Sabari Nagar guideline value

The current guideline value of Sabari Nagar, located in Sethupattu village under the Sriperumpudur SRO, is Rs 300 per sq.ft, effective from 1 July 2024. This area is classified as a New House Site Type -II (Unapproved Lay-Out).

How the guideline value of Sabari Nagar has changed

In the 2012 revision, the guideline value was set at Rs 300 per sq.ft. This remained unchanged in the subsequent revisions of 2017 and 2023, where it was also Rs 300 per sq.ft. However, in the 2017 revision, there was a significant increase of 49% from Rs 201 per sq.ft in 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the value decreased by 33%, but overall, from 2012 to 2024, the guideline value has remained stable at Rs 300 per sq.ft. The recent revision from 2023 to 2024 saw no change, maintaining the value at Rs 300 per sq.ft.

Guideline values in Sethupattu

Sethupattu village has a total of 23 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 150 to Rs 1,500 per sq.ft. The median value among these streets is Rs 300 per sq.ft, which aligns with the 2024 guideline value for Sabari Nagar.

• Sathya Nagar: Rs 450 per sq.ft (2024)
• P.S.Nagar Ph.II: Rs 250 per sq.ft (2024)
• P.S.Nagar: Rs 250 per sq.ft (2024)
• Perumal Koil Street: Rs 250 per sq.ft (2024)
• Sri Hayagreevar Nagar: Rs 150 per sq.ft (2024)
• Tambaram Sriperumpudur Road: Rs 1,400 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 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, making the total fees Rs 27,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Sabari Nagar?

The Sub Registrar Office that covers Sabari Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Sethupattu. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the official value of the property for registration purposes. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, which can impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Sabari Nagar?

The current guideline value of Sabari Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft for the revisions in 2012, 2017, and 2023. There was a significant increase from Rs 201 per sq.ft in 2017, but overall, the value has not changed from 2012 to 2024.

What is the land classification for Sabari Nagar?

Sabari Nagar is classified as a New House Site Type -II (Unapproved Lay-Out).

How is stamp duty calculated in Sabari Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 3,00,000 would incur a stamp duty of Rs 21,000 at 7%.

Which office handles property registrations in Sabari Nagar?

The Sriperumpudur Sub Registrar Office handles property registrations in Sabari Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.