Guideline Value for Singaravelan South Street

Singaravelan South Street guideline value

The current guideline value of Singaravelan South 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 South Street has changed

The guideline value for Singaravelan South Street has seen significant changes over the years. In the 2002 revision, the value was Rs 329 per sq.ft, which increased to Rs 358 per sq.ft in 2003. The value then rose dramatically to Rs 1,000 per sq.ft in 2007, followed by a substantial increase to Rs 3,000 per sq.ft in 2012. However, in the 2017 revision, the value decreased to Rs 2,010 per sq.ft. The guideline value then increased to Rs 3,000 per sq.ft in 2023, and finally, it reached Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 903%. The changes between the revisions include a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a 200% increase from 2007 to 2012, a 179% increase from 2003 to 2007, and a 9% increase from 2002 to 2003. There are no revisions with figures missing for this street.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO, with a 2024 guideline value range from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, placing Singaravelan South Street's 2024 figure above this median.

• Singaravelan Pirathana Salai: Rs 4,400 per sq.ft (2024)
• Singaravelan North 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 South Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Singaravelan South Street?

The Sub Registrar Office that covers Singaravelan South 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 during the registration process when buying or selling property in Neelankarai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid, ensuring that these charges are based on a standardized value set by the government.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty. This ensures that the government receives the appropriate revenue based on the property's value, whether it is sold above or below the guideline value.

Frequently asked questions

What is the current guideline value of Singaravelan South Street?

The current guideline value of Singaravelan South 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 the years.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft property at the current guideline value, the total cost for stamp duty and registration fees would be Rs 2,97,000.

Which office handles registrations for Singaravelan South Street?

The Neelankarai Sub Registrar Office is responsible for registrations related to Singaravelan South Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. The higher value between the guideline and sale price is taken to determine the applicable charges.