Guideline Value for Singanna street

Singanna street guideline value

The current guideline value of Singanna street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village, under the Chennai North Joint I SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Singanna street has changed

Over the years, the guideline value of Singanna street has seen significant changes. The 2007 revision recorded a guideline value of Rs 2,300 per sq.ft, which increased to Rs 6,500 per sq.ft in the 2012 revision. However, there was a decrease to Rs 4,355 per sq.ft in the 2017 revision, followed by a substantial increase to Rs 6,500 per sq.ft in the 2023 revision. The current value of Rs 7,100 per sq.ft reflects a 9% increase from the previous year.

In summary, from the 2007 revision to the 2024 revision, the guideline value has risen by 209%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Muthialpet

Muthialpet village has a total of 160 streets under the Chennai North Joint I SRO, with guideline values ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median guideline value in this area is Rs 5,500 per sq.ft, placing Singanna street's 2024 figure above that median.

• Springer street+: Rs 11,000 per sq.ft (2024)
• Spring heaven salai+: Rs 11,000 per sq.ft (2024)
• Sengaluneer Pillar Koil street @New street: Rs 5,500 per sq.ft (2024)
• Savari Muthu street: Rs 7,100 per sq.ft (2024)
• Savari Muthu lane+: Rs 4,900 per sq.ft (2024)
• Salai Vinayagar Koil street *: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Singanna street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total cost for these fees to Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Singanna street?

The Sub Registrar Office that covers Singanna street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Muthialpet. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Singanna street?

The current guideline value of Singanna street is Rs 7,100 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 2,300 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 209%.

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

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000, and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Which Sub Registrar Office covers Singanna street?

Singanna street falls under the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105.

What is the land classification for Singanna street?

Singanna street is classified as Residential Class I Type - II, indicating its suitability for residential development.