Guideline Value for SINGAI NAGAR

Singai Nagar guideline value

The current guideline value of Singai Nagar, located in Vinjiyampakkam village under the Chengleput Joint II SRO, is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Singai Nagar has changed

The guideline value for Singai Nagar has seen significant changes over the years. The 2007 revision recorded a value of Rs 80 per sq.ft, which increased dramatically to Rs 700 per sq.ft in 2012, marking a rise of 775%. However, from 2012 to 2017, the value decreased to Rs 469 per sq.ft, a decline of 33%. The 2017 revision then saw an increase to Rs 700 per sq.ft in 2023, which was a 49% rise, followed by a substantial jump to Rs 1,500 per sq.ft in the 2024 revision, reflecting a 114% increase.

The overall change from the 2007 revision to the 2024 revision is a remarkable increase of 1,775%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Vinjiyampakkam

In Vinjiyampakkam, there are seven streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,500 to Rs 2,300 per sq.ft. The guideline value for Singai Nagar is equal to the median of Rs 1,500 per sq.ft. Below are the guideline values for other streets in Vinjiyampakkam:

• Pushpha Thanda Nagar Extn: Rs 2,000 per sq.ft (2024)
• Pushpha Thanda Nagar: Rs 2,000 per sq.ft (2024)
• Ohm Shakthi Nagar: Rs 1,500 per sq.ft (2024)
• V.I.P.Nagar: Rs 1,500 per sq.ft (2024)
• V.I.P. Nagar Extension: Rs 1,500 per sq.ft (2024)
• ஸ்ரீ விக்னேஷ் குமார் நகர்: Rs 2,300 per sq.ft (2024)

Stamp duty and registration fee for property in Singai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Singai Nagar?

Singai Nagar falls under the jurisdiction of the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vinjiyampakkam. It serves as a benchmark for determining the amount of stamp duty payable, ensuring that the taxes are calculated based on a standardized value rather than the sale price alone.

When a property is registered, the guideline value is assessed, and the applicable fees are calculated based on this value. This process helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Singai Nagar?

The current guideline value of Singai Nagar is Rs 1,500 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 80 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2024, marking an overall increase of 1,775% over the years.

What are the guideline values of other streets in Vinjiyampakkam?

Other streets in Vinjiyampakkam have guideline values ranging from Rs 1,500 to Rs 2,300 per sq.ft, with Singai Nagar's value being equal to the median of Rs 1,500 per sq.ft.

What is the stamp duty rate for property in Singai Nagar?

The stamp duty rate for property transactions in Singai Nagar is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.