Guideline Value for Singannan Street

Singannan Street guideline value

The current guideline value of Singannan Street in Muthiyalpet village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Sowcarpet Sub Registrar Office and is classified as Residential Class I Type - I.

How the guideline value of Singannan Street has changed

Over the years, the guideline value of Singannan Street has seen significant changes. In the 2007 revision, the value was Rs 1,200 per sq.ft. It increased to Rs 4,000 per sq.ft in 2012, marking a substantial rise of 233%. However, in the 2017 revision, the value decreased to Rs 2,680 per sq.ft, which was a decline of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, and finally, it reached Rs 4,400 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for Singannan Street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 357 streets under the Sowcarpet SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value for the village is Rs 4,400 per sq.ft, which is the same as the current value for Singannan Street.

• Sivarama Sastri Street: Rs 4,400 per sq.ft (2024)
• Shanmugarayan Street: Rs 4,400 per sq.ft (2024)
• Shanmugarayan Lane: Rs 4,400 per sq.ft (2024)
• Shanmuga Mudali Street: Rs 3,800 per sq.ft (2024)
• Shanmuga Mudali Lane: Rs 3,800 per sq.ft (2024)
• Somasundara Mudali Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Singannan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Singannan Street?

Singannan Street is covered by the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Muthiyalpet. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased, ensuring transparency in property dealings.

When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees, which are essential for the legal transfer of ownership. This process helps maintain a standardized approach to property transactions within the region.

Frequently asked questions

What is the current guideline value of Singannan Street?

The current guideline value of Singannan Street is Rs 4,400 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 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 267% over this period.

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, which is the same as the current value for Singannan Street.

What are the stamp duty and registration fees for properties in Singannan Street?

For a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles the registration for Singannan Street?

The Sowcarpet Sub Registrar Office handles the registration for Singannan Street, located at No.11, Davidson Street, Sowcarpet, Chennai-01.