Guideline Value for SINGARAVELAN NAGAR

Singaravelan Nagar guideline value

The current guideline value of Singaravelan Nagar is Rs 1,045 per sq.ft, effective from 1 July 2024. This area is located in Walajabad village and falls under the Walajabad SRO with a land classification of Residential Special Type - V.

How the guideline value of Singaravelan Nagar has changed

In the 2017 revision, the guideline value was set at Rs 700 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 1,045 per sq.ft. As of the 2024 revision, the guideline value continues to be Rs 1,045 per sq.ft, showing no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. Overall, from 2017 to 2024, the guideline value has also increased by 49%, reflecting a steady valuation since 2023.

Guideline values in Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 750 per sq.ft, making the 2024 figure for Singaravelan Nagar above this median.

• Sivan Padai Street: Rs 750 per sq.ft (2024)
• Serkadu Srinivasa Perumal Koil Street: Rs 750 per sq.ft (2024)
• Serkadu Sengzhuneer Vinagar Koil Street: Rs 750 per sq.ft (2024)
• Serkadu Salai: Rs 750 per sq.ft (2024)
• Serkadu Pogum Road: Rs 750 per sq.ft (2024)
• Serkadu Gangai Vinauagar Koil Street: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Singaravelan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,045 per sq.ft, the total guideline value amounts to Rs 10,45,000. The stamp duty is charged at 7%, which totals Rs 73,150, and the registration fee at 2% amounts to Rs 20,900. Together, the total cost for stamp duty and registration fee is Rs 94,050. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Singaravelan Nagar?

The Sub Registrar Office that covers Singaravelan Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Walajabad. It is used to determine the stamp duty and registration fees, which are based on the guideline value or the sale price, whichever is higher.

When a property transaction occurs, the buyer must pay the applicable stamp duty and registration fees based on the guideline value. This ensures that all property transactions are recorded accurately and that the government receives the necessary revenue from property sales.

Frequently asked questions

What is the current guideline value of Singaravelan Nagar?

The current guideline value of Singaravelan Nagar is Rs 1,045 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 49%, remaining at Rs 1,045 per sq.ft in both the 2023 and 2024 revisions. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

What is the land classification for Singaravelan Nagar?

Singaravelan Nagar is classified as Residential Special Type - V. This classification impacts the guideline value and the types of properties that can be developed in the area.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the guideline value or sale price.

Where can I find the Sub Registrar Office for Singaravelan Nagar?

The Sub Registrar Office for Singaravelan Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.