Guideline Value for SINGARAVELAN STREET (WARD -7)

Singaravelan Street (Ward -7) guideline value

The current guideline value of Singaravelan Street (Ward -7) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Singaravelan Street (Ward -7) has changed

The guideline value for Singaravelan Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 804 per sq.ft. This was followed by a significant increase in the 2023 revision, where the value rose to Rs 1,200 per sq.ft, and then again to Rs 1,321 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing Singaravelan Street's 2024 figure above that median.

• Sinthamani Nagar Annex (Pa): Rs 660 per sq.ft (2024)
• Sinthamani Nagar Annex (Sa): Rs 440 per sq.ft (2024)
• Sinthamani Nagar (Per): Rs 440 per sq.ft (2024)
• Sinthamani Nagar (Sa): Rs 440 per sq.ft (2024)
• Sindhamani Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Silappathikaram Street (Ward -8): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Singaravelan Street (Ward -7)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty at 7% would amount to Rs 92,470, and the registration fee at 2% would be Rs 26,420, bringing the total fees together to Rs 1,18,890. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Singaravelan Street (Ward -7)?

The Sub Registrar Office that covers Singaravelan Street (Ward -7) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Ninna Karai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. Buyers should be aware that the stamp duty and registration fees are calculated based on this value, which can significantly affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for Singaravelan Street (Ward -7)?

The current guideline value for Singaravelan Street (Ward -7) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions: it was Rs 1,200 per sq.ft in 2012, decreased to Rs 804 per sq.ft in 2017, and then increased to Rs 1,200 per sq.ft in 2023 before reaching Rs 1,321 per sq.ft in 2024.

What is the land classification for Singaravelan Street?

Singaravelan Street is classified as Residential Special Type - V, indicating its designated use for residential purposes.

What are the stamp duty rates applicable in Ninna Karai?

The stamp duty rate in Ninna Karai is 7%, while the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.