Guideline Value for SINGARAVELAN 4TH CROSS STREET

Singaravelan 4th Cross Street guideline value

The current guideline value of Singaravelan 4th 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 falls under the Residential Class II Type - I land classification.

How the guideline value of Singaravelan 4th Cross Street has changed

The guideline value for Singaravelan 4th Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft. This was followed by a significant decrease in the 2017 revision, where the value dropped to Rs 2,010 per sq.ft. However, the 2023 revision marked a substantial increase to Rs 3,000 per sq.ft, and the current 2024 revision has further increased it to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 to 2024 revisions, there has been a 10% increase. It is important to note that 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, with guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value among these streets is Rs 2,200 per sq.ft, placing Singaravelan 4th Cross Street's 2024 value above this median.

• Singaravelan 3rd Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 5th Cross Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 6th Cross Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 2nd Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 7th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Singaravelan 4th 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 amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total charges to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Singaravelan 4th Cross Street?

The Sub Registrar Office that covers Singaravelan 4th 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 details.

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

The guideline value is a crucial factor when registering property in Neelankarai. It is used to determine the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware of the current guideline value to ensure they comply with the legal requirements during registration.

When a property is sold, the guideline value helps establish a baseline for the transaction. It ensures that the property is registered at a value that reflects the prevailing market conditions, thereby facilitating a smoother registration process.

Frequently asked questions

What is the current guideline value of Singaravelan 4th Cross Street?

The current guideline value of Singaravelan 4th 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 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012, showing a significant increase over the years.

What are the stamp duty and registration fees for properties 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. The duty is charged on the higher of the guideline value and the sale price.

Which office handles the registration for Singaravelan 4th Cross Street?

The Neelankarai Sub Registrar Office handles registrations for Singaravelan 4th Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value in Neelankarai?

The median guideline value in Neelankarai is Rs 2,200 per sq.ft. Singaravelan 4th Cross Street's 2024 guideline value of Rs 3,300 per sq.ft is above this median.