Guideline Value for Singaram Street

Singaram Street guideline value

The current guideline value of Singaram Street in Ramapuram village, under the Chennai South Joint II SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Singaram Street has changed

The guideline value for Singaram Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. However, the value rebounded to Rs 2,500 per sq.ft in 2023, and the latest revision in 2024 has increased it further to Rs 2,750 per sq.ft, marking a 10% rise from the previous year.

Looking at the changes over the years, the guideline value increased by 49% from 2017 to 2023. The overall change from 2012 to 2024 shows a 10% increase. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,100 per sq.ft, indicating that Singaram Street's 2024 guideline value is below this median.

• Singaravelan Street: Rs 2,750 per sq.ft (2024)
• Sivagnanam Ammal Street: Rs 2,750 per sq.ft (2024)
• Shri Vathsan Street: Rs 2,750 per sq.ft (2024)
• Shri Thirupathi Nagar: Rs 2,750 per sq.ft (2024)
• Shri Ram Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Shri Ram Nagar / Avenue: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Singaram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Singaram Street?

Singaram Street is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government standards.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential costs that must be factored into any real estate transaction. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Singaram Street?

The current guideline value of Singaram Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification of Singaram Street?

Singaram Street is classified under Residential Class II Type - II.

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

The Sub Registrar Office for Singaram Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at a guideline value of Rs 2,750 per sq.ft, the total fees would amount to Rs 2,47,500.