Guideline Value for Singara Garden 3rd Street

Singara Garden 3rd Street guideline value

The current guideline value of Singara Garden 3rd Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village and falls under the Madhavaram SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of Singara Garden 3rd Street has changed

The guideline value for Singara Garden 3rd Street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 1,800 per sq.ft. This value remained until the next revision in 2017, which saw a decrease to Rs 1,206 per sq.ft. However, from 2017 to 2023, the guideline value increased significantly to Rs 1,800 per sq.ft, and then further rose to Rs 1,900 per sq.ft in the 2024 revision, marking a 6% increase from the previous year.

In summary, the guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,900 per sq.ft in 2024, reflecting an overall increase of 6% over this period. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, placing the guideline value of Singara Garden 3rd Street below this median.

• Singara Garden 2nd Street: Rs 1,900 per sq.ft (2024)
• Singara Garden 4th Street: Rs 1,900 per sq.ft (2024)
• Singara Garden 1st Street: Rs 1,900 per sq.ft (2024)
• Singara Mudaliar Nagar / Street: Rs 2,500 per sq.ft (2024)
• Sivagami 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Sivagami 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Singara Garden 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, while the registration fee at 2% would be Rs 38,000, bringing the total cost for these fees to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Singara Garden 3rd Street?

The Sub Registrar Office that covers Singara Garden 3rd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Erukancherry. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

Additionally, the guideline value reflects the official valuation of properties in the area, which can influence the overall transaction process. It is essential for both parties to be aware of this value to facilitate a smooth registration experience.

Frequently asked questions

What is the current guideline value of Singara Garden 3rd Street?

The current guideline value of Singara Garden 3rd Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,900 per sq.ft in 2024, with several revisions in between. The most notable increase was from Rs 1,800 per sq.ft in 2023 to Rs 1,900 per sq.ft in 2024.

What is the land classification for Singara Garden 3rd Street?

Singara Garden 3rd Street is classified as Residential Class V Type - I, indicating its use for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Singara Garden 3rd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 19,00,000 would incur a stamp duty of Rs 1,33,000 at 7%.