Guideline Value for Singara Garden 1st Lane

Singara Garden 1st Lane guideline value

The current guideline value of Singara Garden 1st Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and is classified as Commercial Special Type - II.

How the guideline value of Singara Garden 1st Lane has changed

The guideline value for Singara Garden 1st Lane has seen several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased significantly to Rs 4,000 per sq.ft by 2012. However, it then decreased to Rs 2,680 per sq.ft in 2017. Following this, the value rose to Rs 4,000 per sq.ft in 2023, and most recently, it has increased to Rs 4,400 per sq.ft in 2024.

From 2017 to 2023, the increase was 49%, while the jump from 2023 to 2024 is 10%. The overall change from 2007 to 2024 is a substantial increase of 340%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for the village is Rs 1,600 per sq.ft, placing Singara Garden 1st Lane above this median.

• Singara Garden 7th Lane: Rs 4,400 per sq.ft (2024)
• Siggirindapalayam 9th Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 8th Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 7th Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 6th Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 5th Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Singara Garden 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total fees Rs 3,96,000. 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 Singara Garden 1st Lane?

The Sub Registrar Office that covers Singara Garden 1st Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process for property transactions in Tondaiarpet. It determines the minimum price at which a property can be registered, ensuring that all transactions are conducted at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. This value helps maintain transparency and accountability in the real estate market.

Frequently asked questions

What is the current guideline value of Singara Garden 1st Lane?

The current guideline value of Singara Garden 1st Lane 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 from Rs 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, with various increases and a decrease in between. The most recent increase was 10% from 2023 to 2024.

What is the land classification for Singara Garden 1st Lane?

Singara Garden 1st Lane is classified as Commercial Special Type - II, indicating its suitability for commercial activities.

Where can I find the Royapuram Sub Registrar Office?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated for properties in Singara Garden 1st Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at a rate of 7%.