Guideline Value for Singaradasar Street

Singaradasar Street guideline value

The current guideline value of Singaradasar Street in Madipakkam-1 village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Velacheri SRO and is classified as Residential Class II Type - II.

How the guideline value of Singaradasar Street has changed

The guideline value for Singaradasar Street has undergone significant changes over the years. The 2017 revision set the value at Rs 1,005 per sq.ft. With the latest 2024 revision, the value increased to Rs 1,650 per sq.ft, reflecting a change of +64% from the previous revision.

It is important to note that the register has no figure for Singaradasar Street in the years 2023, 2012, 2007, 2003, and 2002.

Guideline values in Madipakkam-1

In Madipakkam-1, there are a total of 1,823 streets under the Velacheri SRO carrying a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, indicating that Singaradasar Street's 2024 figure is below this median.

• Sigamani Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Sigamani Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Sigamani Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Sigamani Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Sigamani Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Sigamani Nagar 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Singaradasar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost to Rs 1,48,500. It is important to note that the 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 Singaradasar Street?

The Sub Registrar Office that covers Singaradasar Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered alongside the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Singaradasar Street?

The current guideline value of Singaradasar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value for Singaradasar Street increased from Rs 1,005 per sq.ft in 2017 to Rs 1,650 per sq.ft in 2024, marking a change of +64%.

Are there any years with no guideline value for Singaradasar Street?

Yes, the register has no figure for Singaradasar Street in the years 2023, 2012, 2007, 2003, and 2002.

What is the median guideline value in Madipakkam-1?

The median guideline value for streets in Madipakkam-1 is Rs 2,750 per sq.ft, which is above the current value of Singaradasar Street.

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

The Velacheri Sub Registrar Office covers Singaradasar Street and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.