Guideline Value for SINGARA NAGIKER STREET

Singara Nagiker Street guideline value

The current guideline value of Singara Nagiker Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chettiyaragaram village under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Singara Nagiker Street has changed

The guideline value for Singara Nagiker Street has seen several revisions over the years. In 2012, the guideline value was set at Rs 1,500 per sq.ft. This figure decreased to Rs 1,005 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 1,500 per sq.ft. The most recent revision in 2024 saw another increase of 10%, raising the guideline value to Rs 1,650 per sq.ft.

The register has no figures for the years 2002, 2003, and 2007. Overall, comparing the values from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Chettiyaragaram

In Chettiyaragaram, there are 22 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,210 to Rs 4,400 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Singara Nagiker Street is below this median.

• Sivarama Iyar Street: Rs 1,650 per sq.ft (2024)
• S.K.Nagar: Rs 2,420 per sq.ft (2024)
• S.K.Nagar Main Road: Rs 2,420 per sq.ft (2024)
• School Street: Rs 1,650 per sq.ft (2024)
• Rajalakshmi Garden: Rs 1,650 per sq.ft (2024)
• Porur Garden Phase-III: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Singara Nagiker Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees together to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Singara Nagiker Street?

Singara Nagiker Street falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Chettiyaragaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the land records.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, impacting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Singara Nagiker Street?

The current guideline value of Singara Nagiker Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 1,500 per sq.ft to Rs 1,650 per sq.ft in 2024, with notable increases and decreases in between, including a drop to Rs 1,005 per sq.ft in 2017.

What is the median guideline value in Chettiyaragaram?

The median guideline value in Chettiyaragaram is Rs 2,200 per sq.ft, with Singara Nagiker Street's 2024 value being below this median.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is typically charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Singara Nagiker Street?

Singara Nagiker Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.