Guideline Value for Singarachari Street

Singarachari Street guideline value

The current guideline value of Singarachari Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO. The land classification for this area is Mixed Type - II.

How the guideline value of Singarachari Street has changed

The guideline value for Singarachari Street has undergone several revisions over the years. In 2007, the value was set at Rs 1,650 per sq.ft, which increased significantly to Rs 7,000 per sq.ft in 2012, marking a rise of 324%. However, from 2012 to 2017, the value saw a decrease to Rs 4,690 per sq.ft, a drop of 33%. The most recent revision in 2024 has raised the value to Rs 7,700 per sq.ft, reflecting an increase of 64% from the 2017 figure.

There are no recorded guideline values for Singarachari Street in the years 2023, 2003, and 2002. Overall, from 2007 to 2024, the guideline value has increased by 367%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, placing Singarachari Street above this median value.

• Singa Perumal Koil Street: Rs 6,600 per sq.ft (2024)
• Singaravelan Street: Rs 5,500 per sq.ft (2024)
• Sivaprakasam lane: Rs 6,600 per sq.ft (2024)
• Sivaprakasam Street: Rs 6,600 per sq.ft (2024)
• Sherfuddin Garden Blind Lane: Rs 8,800 per sq.ft (2024)
• Sherfuddin Garden 2nd Lane: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Singarachari Street

For a property measuring 1,000 sq.ft at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total fees to Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Singarachari Street?

The Sub Registrar Office that covers Singarachari Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Triplicane. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation of the property.

It is essential for buyers and sellers to be aware of the guideline value, as it can affect the overall financial implications of a property transaction. Accurate knowledge of these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Singarachari Street?

The current guideline value of Singarachari Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,650 per sq.ft to Rs 7,700 per sq.ft in 2024, which is an overall increase of 367%. The value has seen fluctuations, including a drop between 2012 and 2017.

What is the land classification for Singarachari Street?

The land classification for Singarachari Street is Mixed Type - II, indicating a diverse use of land in the area.

Where can I find the Sub Registrar Office for Singarachari Street?

The Sub Registrar Office for Singarachari Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Singarachari Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 77,00,000 would incur a stamp duty of Rs 5,39,000 at a rate of 7%.