Guideline Value for Singanna Chetty Street 1st lane

Singanna Chetty Street 1st lane guideline value

The current guideline value for Singanna Chetty Street 1st lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Chindadripet village, which falls under the Periamet SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Singanna Chetty Street 1st lane has changed

Over the years, the guideline value for Singanna Chetty Street 1st lane has seen significant changes. Starting from the 2007 revision, the guideline value was Rs 800 per sq.ft. This increased substantially to Rs 3,000 per sq.ft in 2012, marking a 275% rise. However, the value then decreased to Rs 2,010 per sq.ft in 2017, which was a decline of 33%. Following this, the 2023 revision set the value at Rs 3,000 per sq.ft, reflecting a 49% increase from the previous figure. The most recent revision in 2024 has raised the guideline value to Rs 3,300 per sq.ft, which is a 10% increase from 2023.

It is important to note that the register has no figures for this street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Chindadripet

In Chindadripet village, there are 98 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,500 to Rs 18,100 per sq.ft. The median value among these streets is Rs 3,300 per sq.ft, which is equal to the guideline value of Singanna Chetty Street 1st lane.

• Singanna Chetty Street: Rs 6,600 per sq.ft (2024)
• Singanna Chetty Street 2nd lane: Rs 3,300 per sq.ft (2024)
• Singanna Chetty Street 3rd lane: Rs 3,300 per sq.ft (2024)
• Siyali Amman Koil lane: Rs 2,600 per sq.ft (2024)
• Siyali amman Koil Street: Rs 2,600 per sq.ft (2024)
• Seshagiri Iyer street: Rs 2,600 per sq.ft (2024)

Stamp duty and registration fee for property in Singanna Chetty Street 1st lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Therefore, the total amount payable would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Singanna Chetty Street 1st lane?

The Sub Registrar Office that covers Singanna Chetty Street 1st lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value will be compared with the actual sale price. The higher of the two values will be used to calculate the applicable stamp duty and registration fees, ensuring compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Singanna Chetty Street 1st lane?

The current guideline value of Singanna Chetty Street 1st lane 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 significantly from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 313% over the years.

What is the land classification for Singanna Chetty Street 1st lane?

The land classification for Singanna Chetty Street 1st lane is Residential Class III Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Singanna Chetty Street 1st lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for property transactions?

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