Guideline Value for Singaravelan Street

Singaravelan Street guideline value

The current guideline value of Singaravelan Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO, classified as Residential Class II Type - I.

How the guideline value of Singaravelan Street has changed

The guideline value for Singaravelan Street has undergone several revisions over the years. The earliest recorded figure is from 2003, where the guideline value was Rs 648 per sq.ft. This value saw a significant increase to Rs 945 per sq.ft in 2007, marking a change of +46%. In 2012, the value remained at Rs 5,000 per sq.ft, experiencing a remarkable increase of +429% from the 2007 figure. The guideline value did not change from 2012 to 2023, where it remained at Rs 5,000 per sq.ft. However, in the 2024 revision, the value increased to Rs 5,500 per sq.ft, reflecting a change of +10% from the previous year.

It is important to note that there are no recorded figures for the years 2002 and 2017 for Singaravelan Street. Overall, the guideline value has increased by +749% from 2003 to 2024.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, which means Singaravelan Street's 2024 figure of Rs 5,500 per sq.ft is below the median.

• Singarachari Street: Rs 7,700 per sq.ft (2024)
• Singa Perumal Koil Street: Rs 6,600 per sq.ft (2024)
• Sivaprakasam lane: Rs 6,600 per sq.ft (2024)
• Sivaprakasam Street: Rs 6,600 per sq.ft (2024)
• Sivarajapuram (Huts): Rs 2,700 per sq.ft (2024)
• Sivaraman Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Singaravelan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Singaravelan Street?

The Sub Registrar Office that covers Singaravelan Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Singaravelan Street?

The current guideline value of Singaravelan Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 648 per sq.ft in 2003 to Rs 5,500 per sq.ft in 2024, marking an overall increase of +749% over the years.

What is the stamp duty for property in Singaravelan Street?

The stamp duty for property in Singaravelan Street is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would amount to Rs 3,85,000.

Which Sub Registrar Office covers Singaravelan Street?

The Triplicane Sub Registrar Office covers Singaravelan Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

Are there other streets in Triplicane with higher guideline values?

Yes, there are several other streets in Triplicane with higher guideline values. For instance, Singarachari Street has a guideline value of Rs 7,700 per sq.ft in 2024.