Guideline Value for Sabari Salai

Sabari Salai guideline value

The current guideline value of Sabari Salai is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Porunthavakkam village, under the Pallavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sabari Salai has changed

The guideline value for Sabari Salai has seen significant changes over the years. The earliest recorded figure in the register is from 2003, where the value was Rs 376 per sq.ft. This increased to Rs 700 per sq.ft in 2007, marking an increase of 86%. By 2012, the value rose sharply to Rs 3,000 per sq.ft, a substantial increase of 329%. However, it then decreased to Rs 2,010 per sq.ft in 2017, reflecting a drop of 33%. The guideline value continued to increase, reaching Rs 3,000 per sq.ft in 2023, and then rising to Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 778%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Porunthavakkam

In Porunthavakkam, there are 23 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,760 to Rs 4,950 per sq.ft, with a median value of Rs 2,420 per sq.ft. The guideline value of Rs 3,300 per sq.ft for Sabari Salai is above this median.

• Sankaran Street: Rs 2,750 per sq.ft (2024)
• Saraswathi Street: Rs 1,760 per sq.ft (2024)
• Sathsangam Street: Rs 2,420 per sq.ft (2024)
• Senthuran Colony: Rs 3,300 per sq.ft (2024)
• Park Square Street: Rs 1,760 per sq.ft (2024)
• Nehru Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Sabari Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for these fees Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sabari Salai?

The Sub Registrar Office that covers Sabari Salai is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Porunthavakkam. It serves as a benchmark for calculating the stamp duty and registration fees when a property is sold or purchased. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value helps determine the official value of the property for legal purposes. This value is used to assess the applicable fees and taxes, ensuring that both parties involved in the transaction are aware of their financial obligations.

Frequently asked questions

What is the current guideline value of Sabari Salai?

The current guideline value of Sabari Salai is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 376 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 778% over this period.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Sabari Salai?

The Pallavaram Sub Registrar Office covers Sabari Salai, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Sabari Salai?

Sabari Salai is classified as Residential Class I Type - I, indicating its suitability for residential development.