Guideline Value for SINGARAVELAN 2ND CROSS STREET

Singaravelan 2nd Cross Street guideline value

The current guideline value of Singaravelan 2nd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Singaravelan 2nd Cross Street has changed

The guideline value for Singaravelan 2nd Cross Street has undergone several revisions over the years. In the 2012 revision, the value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the 2023 revision saw an increase to Rs 3,000 per sq.ft, and the most recent 2024 revision has set the value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Singaravelan 2nd Cross Street's 2024 figure of Rs 3,300 per sq.ft is above the median.

• Singaravelan 2nd Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 1st Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 3rd Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 10th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Singaravelan 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Singaravelan 2nd Cross Street?

The Sub Registrar Office that covers Singaravelan 2nd Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Neelankarai. It serves as the baseline for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Singaravelan 2nd Cross Street?

The current guideline value of Singaravelan 2nd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles the registration for Singaravelan 2nd Cross Street?

The Neelankarai Sub Registrar Office handles the registration for Singaravelan 2nd Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Singaravelan 2nd Cross Street?

Singaravelan 2nd Cross Street is classified as Residential Class II Type - I, indicating its suitability for residential development.