Guideline Value for Singanna Chetty Street

Singanna Chetty Street guideline value

The current guideline value of Singanna Chetty Street is Rs 6,600 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 Special Type - I.

How the guideline value of Singanna Chetty Street has changed

The guideline value for Singanna Chetty Street has seen several revisions over the years. The 2007 revision set the value at Rs 4,000 per sq.ft, which increased to Rs 6,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 4,020 per sq.ft in 2017. The value then rose significantly to Rs 6,000 per sq.ft in 2023, before reaching the current value of Rs 6,600 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 65%. Notably, there are no figures available for the years 2002 and 2003 in the register 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, with a median value of Rs 3,300 per sq.ft. Singanna Chetty Street's current guideline value is above this median.

• Singanna Chetty Street 1st lane: Rs 3,300 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

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty, charged at 7%, would amount to Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000. Together, these fees would total Rs 5,94,000. 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 information.

Which Sub Registrar Office covers Singanna Chetty Street?

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

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 stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the fees collected are reflective of the property's value as determined by the government.

Frequently asked questions

What is the current guideline value of Singanna Chetty Street?

The current guideline value of Singanna Chetty Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 65% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which office handles property registration for Singanna Chetty Street?

The Periamet Sub Registrar Office handles property registration for Singanna Chetty Street, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification for Singanna Chetty Street?

Singanna Chetty Street is classified as Residential Special Type - I, indicating its use for residential purposes.