Guideline Value for Singara Garden 7th Lane

Singara Garden 7th Lane guideline value

The current guideline value for Singara Garden 7th Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village and falls under the Royapuram SRO. The land classification for this area is Commercial Special Type - II.

How the guideline value of Singara Garden 7th Lane has changed

The guideline value for Singara Garden 7th Lane has seen significant changes over the years. In the 2007 revision, the value was Rs 1,000 per sq.ft, which increased dramatically to Rs 4,000 per sq.ft in 2012, marking a rise of 300%. However, by 2017, the value dropped to Rs 2,680 per sq.ft, reflecting a decrease of 33%. From 2017 to 2023, the value surged to Rs 4,000 per sq.ft, an increase of 49%, and the most recent revision in 2024 set the value at Rs 4,400 per sq.ft, a rise of 10% from the previous year.

The register does not contain figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1384 streets under the Royapuram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value is Rs 1,600 per sq.ft, placing the guideline value for Singara Garden 7th Lane above this median.

• Singara Garden 1st 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 7th 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 be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Singara Garden 7th Lane?

The Sub Registrar Office that covers Singara Garden 7th 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 plays a crucial role in the registration process of property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to consider the guideline value, as it can influence negotiations and the overall transaction process. Buyers should be aware that the final costs may include additional fees based on the guideline value.

Frequently asked questions

What is the current guideline value for Singara Garden 7th Lane?

The current guideline value for Singara Garden 7th Lane is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value for Singara Garden 7th Lane has changed significantly, from Rs 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking a total increase of 340%.

What is the land classification for Singara Garden 7th Lane?

The land classification for Singara Garden 7th Lane is Commercial Special Type - II.

Where can I find the Sub Registrar Office for Singara Garden 7th Lane?

The Sub Registrar Office for Singara Garden 7th Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the stamp duty calculated for property transactions?

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