Guideline Value for Sabari Salai

Sabari Salai guideline value

The current guideline value of Sabari Salai is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Sabari Salai has changed

The guideline value for Sabari Salai has seen several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 2,500 per sq.ft, which increased to Rs 2,750 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, there were no recorded figures for the years mentioned. The current rate of Rs 2,750 per sq.ft aligns with the median guideline value for Madipakkam-1, which ranges from Rs 1,650 to Rs 5,500 per sq.ft in the 2024 revision.

Guideline values in Madipakkam-1

In Madipakkam-1, there are a total of 1823 streets under the Velacheri SRO, with the 2024 guideline values varying from Rs 1,650 to Rs 5,500 per sq.ft. The guideline value for Sabari Salai is equal to the median value of Rs 2,750 per sq.ft. Below are the guideline values for other streets in Madipakkam-1:

• Sabari Salai/Karthikeyapuram(Adhi Kesavan Pillai Street): Rs 3,850 per sq.ft (2024)
• Sabthagiri Nagar: Rs 3,300 per sq.ft (2024)
• Sabthagiri Street: Rs 3,300 per sq.ft (2024)
• Sadasivam nagar: Rs 3,850 per sq.ft (2024)
• Sadasivam Nagar 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Sadasivam Nagar 1st Link Street: Rs 3,850 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 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost to Rs 2,47,500. 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 Salai?

The Sabari Salai area falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

When buying or selling property in Madipakkam-1, the guideline value is crucial as it determines the amount of stamp duty and registration fees that need to be paid. The guideline value serves as a reference point for property transactions and is used by the registration department to assess the value of the property being sold or purchased.

It is essential to be aware that the guideline value may vary between different streets and can change with revisions. Buyers and sellers should ensure they are informed of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sabari Salai?

The current guideline value of Sabari Salai is Rs 2,750 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 2,750 per sq.ft in 2024, reflecting a +10% increase. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 for 2024 is Rs 2,750 per sq.ft, which is the same as the guideline value for Sabari Salai.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500. The duty is charged on the higher of the guideline value or the sale price.

Where is the Velacheri Sub Registrar Office located?

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