Guideline Value for SINGARAVELAN 9TH CROSS STREET

Singaravelan 9th Cross Street guideline value

The current guideline value of Singaravelan 9th 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 9th Cross Street has changed

The guideline value for Singaravelan 9th Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,000 per sq.ft, and the most recent 2024 revision raised it to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. 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 have 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. The guideline value of Singaravelan 9th Cross Street is above this median.

• Singaravelan 8th Cross Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 7th Cross Street: Rs 3,300 per sq.ft (2024)
• Singaravelan North Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 6th Cross Street: Rs 3,300 per sq.ft (2024)
• Singaravelan Pirathana Salai: Rs 4,400 per sq.ft (2024)
• Singaravelan South Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Singaravelan 9th 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 amounts to 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 to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Singaravelan 9th Cross Street?

The Sub Registrar Office that covers Singaravelan 9th Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Neelankarai. It serves as a benchmark for determining the minimum price at which property transactions can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential components of the transaction costs. This ensures that both parties are aware of the financial implications of the sale based on the established guideline value.

Frequently asked questions

What is the current guideline value of Singaravelan 9th Cross Street?

The current guideline value of Singaravelan 9th 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 land classification of Singaravelan 9th Cross Street?

Singaravelan 9th Cross Street is classified as Residential Class II Type - I.

Where is the Neelankarai Sub Registrar Office located?

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

How is stamp duty calculated for properties in Singaravelan 9th Cross Street?

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