Guideline Value for Sabthagiri Nagar

Sabthagiri Nagar guideline value

The current guideline value of Sabthagiri Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Madipakkam-1 village, under the Velacheri SRO, and is classified as Residential Class I Type - II.

How the guideline value of Sabthagiri Nagar has changed

The guideline value for Sabthagiri Nagar has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was recorded at Rs 3,000 per sq.ft, which increased to Rs 3,300 per sq.ft in 2024, marking a change of +10%.

Prior to 2023, the register does not provide any figures for this street. The most recent revision reflects the current market conditions and positions Sabthagiri Nagar above the median guideline value for the area.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO, with a 2024 guideline value range from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,750 per sq.ft, making Sabthagiri Nagar's 2024 figure of Rs 3,300 higher than this median.

• Sabthagiri Street: Rs 3,300 per sq.ft (2024)
• Sabari Salai/Karthikeyapuram(Adhi Kesavan Pillai Street): Rs 3,850 per sq.ft (2024)
• Sabari Salai: Rs 2,750 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 Sabthagiri Nagar

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. Together, the total cost for these fees would be 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 on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sabthagiri Nagar?

Sabthagiri Nagar falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more details, you can find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a value that reflects the current market conditions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of ownership. This ensures that the government receives its due revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sabthagiri Nagar?

The current guideline value of Sabthagiri Nagar 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 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a +10% increase. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the range of guideline values in Madipakkam-1?

In Madipakkam-1, the guideline values range from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. Sabthagiri Nagar's value is above this median.

What are the stamp duty and registration fees for a property in Sabthagiri Nagar?

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

Where is the Sub Registrar Office for Sabthagiri Nagar located?

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