Guideline Value for Singarampillai Street

Singarampillai Street guideline value

The current guideline value of Singarampillai Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village, under the Konnur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Singarampillai Street has changed

The guideline value for Singarampillai Street has undergone several revisions over the years. In 2002, the value was Rs 241 per sq.ft, which increased to Rs 265 per sq.ft in 2003, marking a 10% rise. The value then saw a significant increase to Rs 800 per sq.ft in 2007, representing a 202% jump. Following this, the value rose to Rs 3,000 per sq.ft in 2012, reflecting a 275% increase from the previous revision. However, the value decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%.

From 2017 to 2023, the guideline value increased to Rs 3,000 per sq.ft, showing a substantial rise of 49%. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year. The overall increase from 2002 to 2024 is an impressive 1269%.

Guideline values in Mugappair

Mugappair village has a total of 224 streets under the Konnur SRO, with guideline values for 2024 ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, indicating that Singarampillai Street's 2024 figure is below the median.

• S.M. Narayanan Nagar: Rs 7,100 per sq.ft (2024)
• Sparton Nagar: Rs 7,100 per sq.ft (2024)
• Senthamizhl Nagar: Rs 3,300 per sq.ft (2024)
• Sribalaji Avenue: Rs 7,100 per sq.ft (2024)
• Sedhakkathi Salai: Rs 7,100 per sq.ft (2024)
• School 1st and 2nd Street (Near JJ Nagar west Block 7): Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Singarampillai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty, charged at 7%, would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Singarampillai Street?

The Sub Registrar Office that covers Singarampillai Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two values is used to calculate the applicable duties and fees. This ensures that the registration reflects the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Singarampillai Street?

The current guideline value of Singarampillai Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 241 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1269%.

What are the stamp duty and registration fees for properties in Singarampillai Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office is responsible for Singarampillai Street?

The Konnur Sub Registrar Office is responsible for Singarampillai Street, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the land classification of Singarampillai Street?

Singarampillai Street is classified as Residential Class III Type - I, indicating its suitability for residential purposes.