Guideline Value for DR. SINGARAVELU STREET

Dr. Singaravelu Street guideline value

The current guideline value of Dr. Singaravelu Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village and falls under the Thiyagaraya nagar SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Dr. Singaravelu Street has changed

The guideline value for Dr. Singaravelu Street has seen several revisions over the years. In 2002, the guideline value was Rs 1,410 per sq.ft. This increased to Rs 1,565 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 2,000 per sq.ft in 2007, reflecting a 28% increase. By 2012, the value was Rs 6,000 per sq.ft, which was a substantial increase of 200%. However, in 2017, it decreased to Rs 4,020 per sq.ft, a drop of 33%. The value then increased to Rs 6,000 per sq.ft in 2023, followed by a final increase to Rs 6,600 per sq.ft in 2024, which represents a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 368%. There are no figures available for the revisions in years other than those mentioned above.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value for these streets is Rs 11,000 per sq.ft, placing Dr. Singaravelu Street's 2024 figure below that median.

• Dr. Sambasivarm Street: Rs 14,300 per sq.ft (2024)
• Dr. Sadasivam Street: Rs 13,200 per sq.ft (2024)
• Dr. Thomas Road: Rs 14,300 per sq.ft (2024)
• Dr. Thomas Road 2 Lane: Rs 6,600 per sq.ft (2024)
• Dr. Nair Road: Rs 22,000 per sq.ft (2024)
• Duraisamy Road: Rs 17,600 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Singaravelu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr. Singaravelu Street?

The Sub Registrar Office that covers Dr. Singaravelu Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tnagar. It serves as a benchmark for determining the minimum value at which a property can be registered. This means that the guideline value must be considered when calculating the stamp duty and registration fees during the transaction.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid legal complications. This ensures transparency and helps maintain a standard in property transactions within the area.

Frequently asked questions

What is the current guideline value of Dr. Singaravelu Street?

The current guideline value of Dr. Singaravelu Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,410 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 368% over the years.

What is the land classification for Dr. Singaravelu Street?

Dr. Singaravelu Street is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Dr. Singaravelu Street?

The Sub Registrar Office for Dr. Singaravelu Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is the stamp duty calculated for properties in Dr. Singaravelu Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 at a rate of 7%.