Guideline Value for Sri Sabari Nagar

Sri Sabari Nagar guideline value

The current guideline value of Sri Sabari Nagar, located in Naduveerapattu village under the Padappai SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Sri Sabari Nagar has changed

Looking back at the revisions, the guideline value for Sri Sabari Nagar was Rs 500 per sq.ft in 2023, which increased to Rs 550 per sq.ft in the 2024 revision, reflecting a 10% rise. Prior to that, in 2017, the value was Rs 335 per sq.ft, marking a significant increase of 49% when compared to the 2023 figure. The 2012 revision had the guideline value set at Rs 500 per sq.ft, which was a decrease of 33% from Rs 335 per sq.ft in 2017.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a total increase of 10%.

Guideline values in Naduveerapattu

In Naduveerapattu, there are a total of 96 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 2,500 per sq.ft. The median guideline value in this area is Rs 660 per sq.ft, which means that the current value of Sri Sabari Nagar is below that median.

• Sri Mega City M M Nagar - I: Rs 550 per sq.ft (2024)
• Sri Gayathri Mega Nagar: Rs 660 per sq.ft (2024)
• Sri Gayathri Co-Operative Mega Nagar: Rs 660 per sq.ft (2024)
• Sri Durga Nagar: Rs 440 per sq.ft (2024)
• Sri Balaji Nagar: Rs 770 per sq.ft (2024)
• Tambaram to Naduveerapattu Road: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sabari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty, calculated at 7%, would be Rs 38,500, while the registration fee at 2% would be Rs 11,000. Therefore, the total cost for these fees would be Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Sabari Nagar?

Sri Sabari Nagar falls under the jurisdiction of the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Naduveerapattu. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a property is registered, the higher value between the guideline value and the sale price is considered for calculating the applicable duties and fees. This ensures that the transaction is appropriately taxed based on the established values.

Frequently asked questions

What is the current guideline value of Sri Sabari Nagar?

The current guideline value of Sri Sabari Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2023 to Rs 550 per sq.ft in 2024, a 10% increase. From 2017 to 2023, it rose by 49% from Rs 335 per sq.ft.

What is the land classification of Sri Sabari Nagar?

Sri Sabari Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Padappai Sub Registrar Office?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated in Sri Sabari Nagar?

Stamp duty in Sri Sabari Nagar is calculated based on the higher value between the guideline value and the sale price. For example, for a 1,000 sq.ft plot at Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000.