Guideline Value for Sabari Nagar

Sabari Nagar guideline value

The current guideline value of Sabari Nagar, located in Velachery village under the Velacheri SRO, is Rs 3,850 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - III.

How the guideline value of Sabari Nagar has changed

The guideline value for Sabari Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 156 per sq.ft, which increased to Rs 175 per sq.ft in 2003, marking a change of +12%. The value saw a significant rise to Rs 1,500 per sq.ft in 2007, reflecting an increase of +757%. By 2012, the guideline value remained at Rs 3,500 per sq.ft, with no change recorded until 2023. In the 2023 revision, the value was again Rs 3,500 per sq.ft, before it rose to Rs 3,850 per sq.ft in 2024, indicating a change of +10%.

It is important to note that there is no figure available for the year 2017 for this street. Overall, from 2002 to 2024, the guideline value has increased by +2368%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have a guideline value for 2024, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing the 2024 figure for Sabari Nagar below this median.

• Sabari Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Sabari Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Sachidananada Nagar Anaga Street: Rs 3,850 per sq.ft (2024)
• Sachidananada Nagar Datha Street: Rs 3,850 per sq.ft (2024)
• Sachidananada Nagar Main Salai: Rs 3,850 per sq.ft (2024)
• Sachidanandam Nagar: Rs 3,850 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 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty, charged at 7%, would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sabari Nagar?

Sabari Nagar falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process for property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to consider the guideline value as it may impact the overall transaction costs. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, which can significantly affect the total expenses involved in the transaction.

Frequently asked questions

What is the current guideline value of Sabari Nagar?

The current guideline value of Sabari Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 156 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of +2368% over this period.

Is there a guideline value available for the year 2017?

No, the register has no figure for the year 2017 for Sabari Nagar.

What is the median guideline value for streets in Velachery?

The median guideline value for streets in Velachery is Rs 4,400 per sq.ft, which is higher than the current value for Sabari Nagar.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.