Guideline Value for Singaravelan 3rd Street

Singaravelan 3rd Street guideline value

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

How the guideline value of Singaravelan 3rd Street has changed

The guideline value for Singaravelan 3rd Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is an increase of 10% from the 2023 figure of Rs 3,000 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 2,010 per sq.ft, marking a significant increase of 49% from that year to 2023. The 2012 revision showed a decrease to Rs 3,000 per sq.ft, down 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Neelankarai

In Neelankarai, 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, with a median value of Rs 2,200 per sq.ft. The guideline value of Singaravelan 3rd Street is above this median.

• Singaravelan 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 2nd Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 5th Cross Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Singaravelan 3rd 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, making the total cost for these fees Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Singaravelan 3rd Street?

The Sub Registrar Office that covers Singaravelan 3rd 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 is a crucial factor in the registration of property transactions in Neelankarai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property, which can influence negotiations and final sale agreements. It is essential for all parties involved to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Singaravelan 3rd Street?

The current guideline value of Singaravelan 3rd 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 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, representing a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What are the other streets with the same guideline value in Neelankarai?

Other streets in Neelankarai with the same guideline value of Rs 3,300 per sq.ft include Singaravelan 3rd Cross Street, Singaravelan 4th Cross Street, Singaravelan 2nd Street, Singaravelan 2nd Cross Street, Singaravelan 5th Cross Street, and Singaravelan 1st Street.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Tamil Nadu is typically 7%. This is calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find more information through the provided link.