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 Kilkattalai village under the Pallavaram SRO, with a land classification of Mixed Type - II.

How the guideline value of Sabari street has changed

The guideline value for Sabari street has seen several revisions over the years. In 2003, the value was Rs 288 per sq.ft, which increased to Rs 700 per sq.ft in 2007, marking a significant rise of 143%. The value remained unchanged at Rs 2,800 per sq.ft from 2012 to 2023, before rising to Rs 3,300 per sq.ft in the 2024 revision, an increase of 18%.

Notably, the 2012 and 2023 revisions did not reflect any change in the guideline value for this street. Overall, from 2003 to 2024, the guideline value has increased by 1046%.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,530 per sq.ft, making Sabari street's 2024 figure above this median.

• Rukmani ammal Street: Rs 2,160 per sq.ft (2024)
• Sai Street: Rs 2,200 per sq.ft (2024)
• Sakthi Nagar: Rs 1,980 per sq.ft (2024)
• Sakthi Nagar Varasithi Vinayagar Street: Rs 1,980 per sq.ft (2024)
• Sandhiyamman Nagar: Rs 1,980 per sq.ft (2024)
• Rangaswamy Street: Rs 1,980 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 amounts to 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, leading to a combined total of 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sabari street?

Sabari street falls under the jurisdiction of the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value helps both parties understand the legal valuation of the property. Buyers should be aware that the stamp duty is calculated based on this value or the sale price, whichever is higher, which can significantly impact the overall cost of the transaction.

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 increased from Rs 288 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 1046%.

What is the median guideline value in Kilkattalai?

The median guideline value in Kilkattalai is Rs 2,530 per sq.ft, with Sabari street's 2024 value being above this median.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000, leading to a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Sabari street?

The Pallavaram Sub Registrar Office handles property registrations for Sabari street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.