Guideline Value for Singaravelan Pirathana Salai

Singaravelan Pirathana Salai guideline value

The current guideline value of Singaravelan Pirathana Salai is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, classified as Residential Class I Type - I.

How the guideline value of Singaravelan Pirathana Salai has changed

The guideline value for Singaravelan Pirathana Salai has seen several revisions over the years. The oldest recorded figure is from 2012, which was Rs 4,000 per sq.ft. This was followed by a decrease to Rs 2,680 per sq.ft in 2017. The next revision in 2023 saw an increase to Rs 4,000 per sq.ft, and the most recent revision in 2024 has set the value at Rs 4,400 per sq.ft.

From 2017 to 2023, there was a significant increase of 49%. The 2023 to 2024 revision saw a 10% increase. Overall, comparing the 2012 figure to the 2024 figure, the guideline value has increased by 10%.

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. Singaravelan Pirathana Salai's current guideline value is above this median.

• Singaravelan North Street: Rs 3,300 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 Pirathana Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total cost for these fees Rs 3,96,000. 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 the stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Singaravelan Pirathana Salai?

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

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

The guideline value is a crucial factor in property transactions in Neelankarai. It serves as a reference point for determining the stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must consider the guideline value when negotiating the sale price to ensure compliance with legal requirements.

When registering a property, the guideline value is used to calculate the applicable fees. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Singaravelan Pirathana Salai?

The current guideline value of Singaravelan Pirathana Salai is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Singaravelan Pirathana Salai?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 44,00,000, the total fees would be Rs 3,96,000.

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.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It acts as a reference point to ensure compliance with legal requirements when buying or selling property.