Guideline Value for SINGARA NAICKEN STREET

Singara Naicken Street guideline value

The current guideline value of Singara Naicken Street is Rs 8,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Singara Naicken Street has changed

Over the years, the guideline value of Singara Naicken Street has seen significant changes. Starting from Rs 872 per sq.ft in 2002, it increased to Rs 969 per sq.ft in 2003, marking an 11% rise. The value then rose to Rs 1,540 per sq.ft in 2007, which was a 59% increase. By 2012, the guideline value remained unchanged at Rs 7,500 per sq.ft. In 2023, it held steady at Rs 7,500 per sq.ft again, before rising to Rs 8,200 per sq.ft in the 2024 revision, representing a 9% increase.

The register has no figure for the year 2017 for this street. Overall, from 2002 to 2024, the guideline value has increased by 840%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. Singara Naicken Street's 2024 figure is below this median.

• Sivaraman Street: Rs 8,200 per sq.ft (2024)
• Slettar Puram: Rs 3,300 per sq.ft (2024)
• Solaiyappan Street: Rs 8,200 per sq.ft (2024)
• Shanmugapuram Huts: Rs 3,300 per sq.ft (2024)
• Shanmugapuram: Rs 3,300 per sq.ft (2024)
• Shanmugam Pillai Street: Rs 8,200 per sq.ft (2024)

Stamp duty and registration fee for property in Singara Naicken Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value amounts to Rs 82,00,000. The stamp duty at 7% would be Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, making the total fees together Rs 7,38,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Singara Naicken Street?

The Sub Registrar Office that covers Singara Naicken Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Mylapore. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. The amount of these fees is based on the guideline value or the sale price, whichever is higher.

When registering a property, buyers must ensure they are aware of the current guideline value to avoid any discrepancies in the fees payable. It is advisable to consult the latest revisions to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Singara Naicken Street?

The current guideline value of Singara Naicken Street is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 872 per sq.ft in 2002 to Rs 8,200 per sq.ft in 2024, reflecting an overall increase of 840% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 82,00,000, the stamp duty would be Rs 5,74,000 and the registration fee would be Rs 1,64,000, totaling Rs 7,38,000.

Which Sub Registrar Office should I visit for transactions in Singara Naicken Street?

The Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018, covers transactions for Singara Naicken Street.

What is the significance of the guideline value in property transactions?

The guideline value is essential for determining the stamp duty and registration fees during property transactions. It ensures that the fees are calculated based on the current market standards as set by the local authorities.