Guideline Value for Singaravelan North Street

Singaravelan North Street guideline value

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

How the guideline value of Singaravelan North Street has changed

The guideline value for Singaravelan North Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 329 per sq.ft. This increased to Rs 358 per sq.ft in 2003, marking a change of +9%. The value then rose significantly to Rs 1,000 per sq.ft in 2007, an increase of +179%. Following this, the 2012 revision saw the value drop to Rs 3,000 per sq.ft, a decrease of -33%. In 2017, the value increased again to Rs 2,010 per sq.ft, reflecting a change of +49%. The 2023 revision set the value at Rs 3,000 per sq.ft, which was then raised to Rs 3,300 per sq.ft in the 2024 revision, showing a change of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +903%. There are no figures available for the years not listed in the revisions for this street.

Guideline values in Neelankarai

In Neelankarai village, there are 377 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Singaravelan North Street's 2024 figure above this median.

• Singaravelan Pirathana Salai: Rs 4,400 per sq.ft (2024)
• Singaravelan South Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 9th Cross Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 8th Cross Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 7th Cross Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 6th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Singaravelan North 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 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 the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Singaravelan North Street?

The Sub Registrar Office that covers Singaravelan North Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Neelankarai. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures that the property is valued correctly for legal and taxation purposes. It is advisable to check the latest revisions to stay informed about any changes that may affect property transactions.

Frequently asked questions

What is the current guideline value of Singaravelan North Street?

The current guideline value of Singaravelan North 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 from Rs 329 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +903% over this period.

What is the stamp duty for property in Singaravelan North Street?

The stamp duty for a property in Singaravelan North Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What are the other streets in Neelankarai and their guideline values?

Other streets in Neelankarai include Singaravelan Pirathana Salai at Rs 4,400 per sq.ft, Singaravelan South Street, Singaravelan 9th Cross Street, Singaravelan 8th Cross Street, Singaravelan 7th Cross Street, and Singaravelan 6th Cross Street, all at Rs 3,300 per sq.ft as of 2024.