Guideline Value for SINGARAVELAN 5TH CROSS STREET

Singaravelan 5th Cross Street guideline value

The current guideline value of Singaravelan 5th 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 5th Cross Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 2,010 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 3,000 per sq.ft in the 2023 revision, followed by another increase to Rs 3,300 per sq.ft in the 2024 revision, which is a rise of 10% from the previous year. The overall change from 2012 to 2024 reflects a modest increase of 10%.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. The guideline values have shown significant fluctuations over the years, with a notable increase of 49% from 2017 to 2023.

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. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Singaravelan 5th Cross Street's 2024 figure above this median.

• Singaravelan 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 6th Cross Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 7th Cross Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 3rd Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 8th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Singaravelan 5th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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 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 further calculations.

Which Sub Registrar Office covers Singaravelan 5th Cross Street?

The Sub Registrar Office that covers Singaravelan 5th 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. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Neelankarai, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on an official valuation.

It is essential for buyers and sellers to be aware of the guideline value, as it can influence the overall cost of the transaction. The guideline value helps maintain transparency in property dealings and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Singaravelan 5th Cross Street?

The current guideline value of Singaravelan 5th 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 is the land classification of Singaravelan 5th Cross Street?

Singaravelan 5th Cross Street is classified as Residential Class II Type - I.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Neelankarai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.