Guideline Value for Singaravelan Nagar

Singaravelan Nagar guideline value

The current guideline value of Singaravelan Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Varadarajapuram village under the Padappai SRO and is classified as Residential Special Type - II.

How the guideline value of Singaravelan Nagar has changed

The guideline value for Singaravelan Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and further rose to Rs 1,650 per sq.ft in 2024, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, the value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median value is Rs 1,650 per sq.ft, which matches the guideline value of Singaravelan Nagar.

• Singara Nagar: Rs 1,100 per sq.ft (2024)
• Silvermist Avenue: Rs 1,650 per sq.ft (2024)
• Sivagami Nagar: Rs 990 per sq.ft (2024)
• Shriram Nagar Extension: Rs 1,650 per sq.ft (2024)
• Shri Kishanlal Avenue: Rs 3,300 per sq.ft (2024)
• Shobha Queens Land: Rs 2,960 per sq.ft (2024)

Stamp duty and registration fee for property in Singaravelan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value would be Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Singaravelan Nagar?

The Sub Registrar Office covering Singaravelan Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Varadarajapuram. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is registered, the guideline value is considered to ensure that the transaction is in compliance with the regulations set by the Registration Department. Buyers and sellers must be aware of this value as it affects the overall cost involved in the property transaction.

Frequently asked questions

What is the current guideline value of Singaravelan Nagar?

The current guideline value of Singaravelan Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What are the stamp duty rates for property in Singaravelan Nagar?

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

Where is the Sub Registrar Office for Singaravelan Nagar located?

The Sub Registrar Office for Singaravelan Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification of Singaravelan Nagar?

Singaravelan Nagar is classified as Residential Special Type - II under the current guidelines.