Guideline Value for Sabari Nagar

Sabari Nagar guideline value

The current guideline value of Sabari Nagar, located in Nandambakkam village, under the Padappai SRO, is Rs 880 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Sabari Nagar has changed

The guideline value for Sabari Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 75 per sq.ft. This value increased significantly to Rs 800 per sq.ft in 2012, marking a substantial rise of 967%. However, it then decreased to Rs 536 per sq.ft in 2017, reflecting a drop of 33%. The guideline value continued to rise, reaching Rs 800 per sq.ft in 2023, and then increased by 10% to Rs 880 per sq.ft in the 2024 revision.

From 2017 to 2023, the increase was notable at 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 1073%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nandambakkam

In Nandambakkam, there are 94 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,300 per sq.ft. The median value is Rs 880 per sq.ft, which is equal to the current guideline value for Sabari Nagar.

• R.M.K. Nagar: Rs 990 per sq.ft (2024)
• R.M..G.Nagar: Rs 990 per sq.ft (2024)
• Sam Leo Muthu Nagar Part - I, II: Rs 1,650 per sq.ft (2024)
• Ranganathapuram Colony Extn I to III: Rs 880 per sq.ft (2024)
• Ranganathapuram: Rs 880 per sq.ft (2024)
• Santhi Nagar: Rs 440 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 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. 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 details.

Which Sub Registrar Office covers Sabari Nagar?

The Sub Registrar Office that covers Sabari Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for additional information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nandambakkam. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration of property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sabari Nagar?

The current guideline value of Sabari Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 75 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, showing an overall increase of 1073% over these years.

What is the land classification for Sabari Nagar?

Sabari Nagar falls under the Residential Class I Type - I land classification.

Where can I find the registration office for Sabari Nagar?

The registration office for Sabari Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Sabari Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 at 7%.