Guideline Value for Sabari Street

Sabari Street guideline value

The current guideline value of Sabari Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sabari Street has changed

Over the years, the guideline value of Sabari Street has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,000 per sq.ft, and the most recent 2024 revision has set it at Rs 3,300 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The overall change from the 2012 revision to the 2024 revision shows a slight increase of 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Sabari Street's 2024 figure above this median.

• Russo Street: Rs 1,650 per sq.ft (2024)
• R.R.Nagar (Ananda street): Rs 1,650 per sq.ft (2024)
• Sai Enclave: Rs 2,750 per sq.ft (2024)
• Sai Nagar Extension1&3: Rs 2,750 per sq.ft (2024)
• Roslien St: Rs 2,750 per sq.ft (2024)
• Roselin nagar muthal street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sabari Street

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 amount to 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sabari Street?

Sabari Street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Chitlapakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are mandatory costs associated with the transaction.

During registration, the authorities will assess the property based on the guideline value to ensure that the correct fees are applied. This helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sabari Street?

The current guideline value of Sabari Street 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 seen several changes, from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increasing to Rs 3,000 per sq.ft in 2023, and finally reaching Rs 3,300 per sq.ft in 2024.

What is the land classification for Sabari Street?

Sabari Street is classified as Residential Class I Type - I, which indicates its suitability for residential development.

What are the registration fees for property in Sabari Street?

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.

Where is the Sub Registrar Office for Sabari Street located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, MES Road, East Tambaram, Chennai-600059, within the Chengalpattu registration zone.