Guideline Value for Singaram Nagar

Singaram Nagar guideline value

The current guideline value of Singaram Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This locality is situated in Mannivakkam village and falls under the Gooduvancheri SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Singaram Nagar has changed

The guideline value for Singaram Nagar has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, it then decreased to Rs 804 per sq.ft in 2017. The value rose again to Rs 1,200 per sq.ft in 2023 and is now set at Rs 1,320 per sq.ft for 2024. The register has no figures for the years 2002 and 2003 for this street.

Looking at the changes, the guideline value increased by 380% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 428%.

Guideline values in Mannivakkam

Mannivakkam has a total of 118 streets under the Gooduvancheri SRO, with a 2024 guideline value range from Rs 330 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,215 per sq.ft, placing Singaram Nagar's 2024 figure above this median.

• Sindhu Nagar: Rs 1,320 per sq.ft (2024)
• Sivan Koil East Mada Veethi: Rs 990 per sq.ft (2024)
• Sivan Koil North Mada Veethi: Rs 990 per sq.ft (2024)
• Sivan Koil South Mada Veethi: Rs 990 per sq.ft (2024)
• Sivan Koil West Mada Veethi: Rs 990 per sq.ft (2024)
• Sivapriya Avenue: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Singaram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total fees Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Singaram Nagar?

The Singaram Nagar area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Mannivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that both the buyer and seller are aware of the official value attributed to the property.

When a property is sold, the guideline value helps in calculating the applicable duties, which are based on the higher value between the guideline and the sale price. This ensures transparency and compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Singaram Nagar?

The current guideline value of Singaram Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 428% over the years.

What are the stamp duty rates in Singaram Nagar?

The stamp duty rate in Singaram Nagar is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Which office handles property registrations in Singaram Nagar?

The Gooduvancheri Sub Registrar Office handles property registrations for Singaram Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

Are there other streets with guideline values in Mannivakkam?

Yes, there are other streets in Mannivakkam under the Gooduvancheri SRO, with guideline values ranging from Rs 330 to Rs 4,300 per sq.ft. Some streets have values similar to Singaram Nagar, such as Sindhu Nagar at Rs 1,320 per sq.ft.