Guideline Value for Sri Sabhari Nagar

Sri Sabhari Nagar guideline value

The current guideline value of Sri Sabhari Nagar, located in Vadaperumbakkam village under the Redhills SRO, is Rs 1,004 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Sri Sabhari Nagar has changed

The guideline value for Sri Sabhari Nagar has undergone several revisions over the years. In 2003, the value was Rs 27 per sq.ft, which saw a significant increase to Rs 300 per sq.ft in 2007. Following this, the value doubled to Rs 600 per sq.ft in 2012, but then decreased to Rs 402 per sq.ft in 2017. The value rose again to Rs 600 per sq.ft in 2023, and most recently, it has increased to Rs 1,004 per sq.ft in 2024, marking a 67% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 3,619%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Vadaperumbakkam

In Vadaperumbakkam, there are 77 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,300 per sq.ft, with a median value of Rs 1,003 per sq.ft. The guideline value of Sri Sabhari Nagar is above this median.

• Sri Srinivasa Modern Town: Rs 1,006 per sq.ft (2024)
• Sri Perumal Nagar: Rs 1,000 per sq.ft (2024)
• Sri Suyambulingam Nagar Annex-II: Rs 1,006 per sq.ft (2024)
• Sri Suyambulingam Nagar Annex IV: Rs 1,006 per sq.ft (2024)
• Sri Vetri Nagar Extention: Rs 1,004 per sq.ft (2024)
• Sri Vetri Nagar Extn.: Rs 1,004 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sabhari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,004 per sq.ft, the total guideline value amounts to Rs 10,04,000. The stamp duty at 7% would be Rs 70,280, and the registration fee at 2% would be Rs 20,080, totaling Rs 90,360. 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 Sabhari Nagar?

The Sub Registrar Office that covers Sri Sabhari Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Vadaperumbakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to consider the guideline value, as it influences the overall cost of the transaction. Buyers should be aware that the actual sale price may be subject to scrutiny, and the higher of the guideline value or sale price will be used for calculating the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Sri Sabhari Nagar?

The current guideline value of Sri Sabhari Nagar is Rs 1,004 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 27 per sq.ft in 2003 to Rs 1,004 per sq.ft in 2024, marking an overall increase of 3,619% over this period.

What are the stamp duty and registration fees in Sri Sabhari Nagar?

For a property valued at Rs 10,04,000, the stamp duty would be Rs 70,280, and the registration fee would be Rs 20,080, totaling Rs 90,360.

Which office handles property registrations for Sri Sabhari Nagar?

The Redhills Sub Registrar Office is responsible for property registrations in Sri Sabhari Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the guideline value determined for properties?

The guideline value is determined by the Registration Department and is based on various factors, including location and land classification. It serves as the minimum price for property registration to ensure proper taxation through stamp duty and registration fees.