Guideline Value for SINGARAM STREET

Singaram Street guideline value

The current guideline value of Singaram Street is Rs 8,300 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO, classified as Residential Class II Type - I.

How the guideline value of Singaram Street has changed

The guideline value for Singaram Street has undergone several revisions over the years. In 2002, the value was Rs 1,006 per sq.ft, which increased to Rs 1,117 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 2,000 per sq.ft in 2007, and then it jumped to Rs 7,500 per sq.ft in 2012. However, the value decreased to Rs 5,025 per sq.ft in 2017. The most recent revisions show an increase to Rs 7,500 per sq.ft in 2023, and finally, the current value is Rs 8,300 per sq.ft as of 2024.

From 2017 to 2023, the guideline value increased by 49%. There was a decrease of 33% from 2012 to 2017. The value surged by 275% from 2007 to 2012, and from 2003 to 2007, it increased by 79%. Overall, from 2002 to 2024, the guideline value has risen by 725%.

Guideline values in Tnagar

In Tnagar village, 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 Singaram Street's 2024 figure below that median.

• Singaravelu Street: Rs 11,000 per sq.ft (2024)
• Siddhi Vinayagar Koil Street: Rs 6,600 per sq.ft (2024)
• Sivagnanam St: Rs 8,300 per sq.ft (2024)
• Sivaprakasam Street: Rs 8,300 per sq.ft (2024)
• Shivaji Street: Rs 11,000 per sq.ft (2024)
• Sivasailam Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Singaram Street

For a 1,000 sq.ft plot at the current rate of Rs 8,300 per sq.ft, the guideline value would be Rs 83,00,000. The stamp duty at 7% would amount to Rs 5,81,000, while the registration fee at 2% would be Rs 1,66,000, bringing the total fees to Rs 7,47,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Singaram Street?

The Sub Registrar Office that covers Singaram 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 is a crucial factor in the registration process when buying or selling property in Tnagar. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. This value serves as a benchmark for the transaction and is essential for maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Singaram Street?

The current guideline value of Singaram Street is Rs 8,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, starting from Rs 1,006 per sq.ft in 2002 to Rs 8,300 per sq.ft in 2024. Notable changes include a decrease from Rs 7,500 per sq.ft in 2012 to Rs 5,025 per sq.ft in 2017, followed by an increase to Rs 8,300 per sq.ft in 2024.

What is the stamp duty for property in Singaram Street?

The stamp duty for property in Singaram Street is calculated at 7% of the guideline value. For instance, if the property value is Rs 83,00,000, the stamp duty would amount to Rs 5,81,000.

Where can I find the Sub Registrar Office for Singaram Street?

The Thiyagaraya nagar Sub Registrar Office covers Singaram Street, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

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

The guideline value is essential in property transactions as it sets the minimum value for registration and helps determine the stamp duty and registration fees. It ensures that the property is registered at a fair value and aids in maintaining transparency in real estate dealings.