Guideline Value for Singara Garden 4th Street

Singara Garden 4th Street guideline value

The current guideline value of Singara Garden 4th Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village, under the Madhavaram SRO, and is classified as Residential Class V Type - I.

How the guideline value of Singara Garden 4th Street has changed

Over the years, the guideline value of Singara Garden 4th Street has seen several revisions. The most recent revision in 2024 set the value at Rs 1,900 per sq.ft, an increase from Rs 1,800 per sq.ft in 2023, which represents a 6% rise. Prior to that, in 2017, the value was Rs 1,206 per sq.ft, showing a significant increase of 49% to the 2023 figure. The register has no figures for the years 2002, 2003, and 2007.

In 2012, the guideline value was Rs 1,800 per sq.ft, which was a decrease of 33% from the Rs 1,206 per sq.ft recorded in 2017. Overall, from 2012 to 2024, the guideline value has increased by 6% from Rs 1,800 per sq.ft to Rs 1,900 per sq.ft.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with a median value of Rs 2,500 per sq.ft. Singara Garden 4th Street's 2024 guideline value is below this median.

• Singara Garden 3rd Street: Rs 1,900 per sq.ft (2024)
• Singara Garden 2nd 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 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. Please note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Singara Garden 4th Street?

Singara Garden 4th Street falls under the Madhavaram Sub Registrar Office located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Erukancherry. It is used to determine the stamp duty and registration fees that must be paid during the registration process. These fees are calculated based on the higher of the guideline value or the actual sale price of the property.

When registering a property, it is essential to be aware of the guideline value as it can significantly impact the total cost involved in the transaction. Buyers and sellers should ensure they are informed about the current guideline values to avoid any unexpected expenses during the registration process.

Frequently asked questions

What is the current guideline value of Singara Garden 4th Street?

The current guideline value of Singara Garden 4th 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 2023 to Rs 1,900 per sq.ft in 2024. It was Rs 1,206 per sq.ft in 2017 and Rs 1,800 per sq.ft in 2012.

What are the other streets with similar guideline values in Erukancherry?

Other streets in Erukancherry, such as Singara Garden 1st, 2nd, and 3rd Streets, also have a guideline value of Rs 1,900 per sq.ft in 2024. Singara Mudaliar Nagar is valued at Rs 2,500 per sq.ft.

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

Stamp duty is charged at 7% and registration fees at 2% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,900 per sq.ft, the total fees would amount to Rs 1,71,000.

Which office handles registrations for Singara Garden 4th Street?

The Madhavaram Sub Registrar Office handles registrations for Singara Garden 4th Street. It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.