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 Sattamangalam village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - V.

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

In the 2012 revision, the guideline value for Singaravelan Street was Rs 1,200 per sq.ft. This value remained unchanged in the 2017 revision, where it was recorded at Rs 804 per sq.ft, reflecting a decrease of 33%. The 2023 revision saw a significant increase to Rs 1,200 per sq.ft, and the most recent 2024 revision has set the guideline value at Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

Guideline values in Sattamangalam

In Sattamangalam village, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in the village is Rs 1,100 per sq.ft, which means that Singaravelan Street's 2024 figure of Rs 1,320 per sq.ft is above that median.

• Sinthamani Nagar Annex (Pa): Rs 660 per sq.ft (2024)
• Sinthamani Nagar Annex (Sa): Rs 660 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 would be Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more information.

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

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

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

The guideline value is an important factor when buying or selling property in Sattamangalam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees payable at the time of registration.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately. Buyers and sellers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

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 seen various changes, from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then up 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?

Singaravelan Street is classified as Residential Special Type - V, which indicates its designated purpose for residential development.

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.

How is stamp duty calculated for properties in Singaravelan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 92,400.