Guideline Value for SINGARAVELAN STREET (WARD -7)

Singaravelan Street (Ward -7) guideline value

The current guideline value of Singaravelan Street (Ward -7) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Panangottur 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 seen several revisions over the years. In 2012, the value was Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 1,200 per sq.ft. The latest revision in 2024 set the guideline value at Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Panangottur

In Panangottur village, there are 419 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 990 per sq.ft, placing Singaravelan Street's 2024 figure above this 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 1,320 per sq.ft (2024)
• Silappathikaram Street (Ward -8): Rs 1,320 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 1,320 per sq.ft, the total guideline value is Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, while the registration fee at 2% would be Rs 26,400, leading to a total of Rs 1,18,800. 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 more details.

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. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Panangottur. It is used to determine the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for both parties. It is essential to be aware of the current guideline value to ensure compliance with local regulations and to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Singaravelan Street (Ward -7) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Singaravelan Street?

The land classification for Singaravelan Street (Ward -7) is Residential Special Type - V.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 13,20,000, the stamp duty is Rs 92,400 and the registration fee is Rs 26,400, totaling Rs 1,18,800.

Which office handles registrations for Singaravelan Street?

The Chengleput Joint II Sub Registrar Office handles registrations for Singaravelan Street (Ward -7), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.