Guideline Value for Singanna Chetty Street 3rd lane

Singanna Chetty Street 3rd lane guideline value

The current guideline value of Singanna Chetty Street 3rd lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Chindadripet village, under the Periamet SRO, and is classified as Residential Class III Type - I.

How the guideline value of Singanna Chetty Street 3rd lane has changed

The guideline value for Singanna Chetty Street 3rd lane has seen several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly 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, reflecting a 33% drop. The 2023 revision set the value at Rs 3,000 per sq.ft, which was then increased to Rs 3,300 per sq.ft in 2024, representing a 10% increase.

From 2017 to 2023, the value surged by 49%. Overall, from 2007 to 2024, the guideline value has increased by 313%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chindadripet

In Chindadripet, 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 is Rs 3,300 per sq.ft, which is equal to the guideline value of Singanna Chetty Street 3rd lane.

• Singanna Chetty Street 2nd lane: Rs 3,300 per sq.ft (2024)
• Singanna Chetty Street 1st lane: Rs 3,300 per sq.ft (2024)
• Singanna Chetty Street: Rs 6,600 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 3rd lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Singanna Chetty Street 3rd lane?

The Sub Registrar Office that covers Singanna Chetty Street 3rd 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 in the registration process when buying or selling property in Chindadripet. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the necessary fees. This practice ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Singanna Chetty Street 3rd lane?

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

What is the land classification for Singanna Chetty Street 3rd lane?

Singanna Chetty Street 3rd lane is classified as Residential Class III Type - I.

Where is the Sub Registrar Office located for this street?

The Sub Registrar Office covering Singanna Chetty Street 3rd lane is located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 33,00,000.