Guideline Value for SINGARAVELAN 7th CROSS STREET

SINGARAVELAN 7th CROSS STREET guideline value

The current guideline value of SINGARAVELAN 7th 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, classified as Residential Class II Type - I.

How the guideline value of SINGARAVELAN 7th CROSS STREET has changed

The guideline value for SINGARAVELAN 7th CROSS STREET has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value saw a significant increase of 49%, bringing it to Rs 3,000 per sq.ft. The most recent revision in 2024 has further increased the value to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

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 7th CROSS STREET above this median.

• Singaravelan 6th Cross Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 8th Cross Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 5th Cross Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 9th Cross Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in SINGARAVELAN 7th 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, while 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 higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SINGARAVELAN 7th CROSS STREET?

SINGARAVELAN 7th CROSS STREET falls under 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 an essential factor in the registration process when buying or selling property in Neelankarai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of SINGARAVELAN 7th CROSS STREET?

The current guideline value of SINGARAVELAN 7th 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 increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the median guideline value for streets in Neelankarai?

The median guideline value for streets in Neelankarai is Rs 2,200 per sq.ft, and SINGARAVELAN 7th CROSS STREET is above this median.

What is the stamp duty rate applicable in Neelankarai?

The stamp duty rate applicable in Neelankarai is 7% of the guideline value or sale price, whichever is higher.

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.