Guideline Value for Singara Mudaliar Nagar / Street

Singara Mudaliar Nagar / Street guideline value

The current guideline value for Singara Mudaliar Nagar / Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Singara Mudaliar Nagar / Street has changed

The guideline value for Singara Mudaliar Nagar / Street has seen several revisions over the years. Starting from the 2012 revision, the value was Rs 2,300 per sq.ft. It then decreased to Rs 1,541 per sq.ft in the 2017 revision. The 2023 revision saw an increase to Rs 2,300 per sq.ft, followed by the current 2024 revision which is Rs 2,500 per sq.ft.

Between the revisions, the changes were significant. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 is a modest increase of 9%. Notably, there are no figures available 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 carry 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 Mudaliar Nagar / Street's 2024 figure aligns with this median.

• Singara Garden 4th Street: Rs 1,900 per sq.ft (2024)
• 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)
• 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 Mudaliar Nagar / Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees to Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Singara Mudaliar Nagar / Street?

The Sub Registrar Office that covers Singara Mudaliar Nagar / Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Erukancherry. It is used to determine the minimum value at which a property can be registered. Buyers and sellers must consider this value during negotiations to ensure compliance with local regulations.

When registering a property, the guideline value is utilized to calculate the applicable stamp duty and registration fees. This ensures that the transaction is officially recognized and documented in accordance with the law.

Frequently asked questions

What is the current guideline value of Singara Mudaliar Nagar / Street?

The current guideline value of Singara Mudaliar Nagar / Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then increased to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What is the land classification of Singara Mudaliar Nagar / Street?

Singara Mudaliar Nagar / Street is classified as Residential Class III Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Singara Mudaliar Nagar / Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 at 7%.