Guideline Value for Sadhasivam Nagar Main Road

Sadhasivam Nagar Main Road guideline value

The current guideline value of Sadhasivam Nagar Main Road is Rs 1,100 per sq.ft, effective from 1 July 2024. This road is located in Chembakkam village under the Selaiyur Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - II.

How the guideline value of Sadhasivam Nagar Main Road has changed

The guideline value for Sadhasivam Nagar Main Road has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in 2017, marking a decline of 33%. In the subsequent revision in 2023, the value increased to Rs 1,000 per sq.ft, and the latest revision in 2024 raised it to Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%, bringing the value back to Rs 1,000 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that the guideline value for Sadhasivam Nagar Main Road is below the median.

• Sadhasivam Nagar 3rd Street: Rs 1,100 per sq.ft (2024)
• Sadhasivam Nagar 2nd Cross Street: Rs 1,100 per sq.ft (2024)
• Sadhasivam Nagar 1st Cross Street: Rs 1,100 per sq.ft (2024)
• Sadhasivam Nagar: Rs 1,100 per sq.ft (2024)
• Sadasivam Nagar 2nd Street: Rs 1,100 per sq.ft (2024)
• Sadasivam Nagar 1st Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sadhasivam Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty charged at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost for these fees to Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sadhasivam Nagar Main Road?

The Sub Registrar Office that covers Sadhasivam Nagar Main Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Chembakkam

The guideline value is a crucial factor during property registration in Chembakkam. It serves as a benchmark for determining the minimum value of a property, ensuring that the transaction is recorded at a fair price. When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the state government receives the appropriate revenue from property transactions, reflecting the value of the property in the market.

Frequently asked questions

What is the current guideline value of Sadhasivam Nagar Main Road?

The current guideline value of Sadhasivam Nagar Main Road is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Sadhasivam Nagar Main Road?

The land classification for Sadhasivam Nagar Main Road is Residential Class III Type - II.

Where can I find the Sub Registrar Office for this area?

The Selaiyur Sub Registrar Office covers Sadhasivam Nagar Main Road, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 11,00,000, the stamp duty at 7% would amount to Rs 77,000.