Guideline Value for Sabthagiri Street

Sabthagiri Street guideline value

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

How the guideline value of Sabthagiri Street has changed

The register has no figure for Sabthagiri Street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 3,000 per sq.ft. This increased by 10% to Rs 3,300 per sq.ft in the 2024 revision.

Comparing the revisions, the 2023 value of Rs 3,000 per sq.ft reflects a significant increase when moving to the 2024 value of Rs 3,300 per sq.ft. This change indicates a rise in the guideline value for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value is Rs 2,750 per sq.ft, placing Sabthagiri Street's 2024 value above this median.

• Sabthagiri Nagar: 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 Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sabthagiri Street?

The Sub Registrar Office that covers Sabthagiri Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process for property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of property registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, helping to prevent undervaluation. This value is essential for both buyers and sellers to understand their financial commitments during the registration process.

Frequently asked questions

What is the current guideline value of Sabthagiri Street?

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

How much did the guideline value increase from 2023 to 2024?

The guideline value increased by 10% from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024.

What is the land classification for Sabthagiri Street?

Sabthagiri Street is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for a property on Sabthagiri Street?

For a property valued at 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, totaling Rs 2,97,000.

Which office do I need to visit for registration in Sabthagiri Street?

The Velacheri Sub Registrar Office is responsible for registrations in Sabthagiri Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.