Guideline Value for Singaravelar Street

Singaravelar Street guideline value

The current guideline value of Singaravelar Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Kadaperi village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Singaravelar Street has changed

The guideline value for Singaravelar Street has undergone several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, this figure saw a decline to Rs 670 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 1,000 per sq.ft, and the most recent increase in 2024 set the current guideline value at Rs 1,100 per sq.ft. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. The increase from 2007 to 2012 was substantial at 150%. Overall, the guideline value has risen by 175% from 2007 to 2024.

Guideline values in Kadaperi

In Kadaperi, there are 142 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 7,700 per sq.ft, with a median value of Rs 1,650 per sq.ft. Singaravelar Street's 2024 guideline value is below this median.

• South Kulakarai Street: Rs 2,200 per sq.ft (2024)
• Service Road(Maduravayul ByPass): Rs 1,320 per sq.ft (2024)
• Samiar Thottam: Rs 1,650 per sq.ft (2024)
• Srinivasan Street: Rs 1,650 per sq.ft (2024)
• R.V.Garden: Rs 2,200 per sq.ft (2024)
• Ranga Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Singaravelar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Singaravelar Street?

The Sub Registrar Office that covers Singaravelar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kadaperi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in this area.

When a buyer or seller approaches the Sub Registrar Office, the guideline value is used to compute the necessary fees. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Singaravelar Street?

The current guideline value of Singaravelar Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 175% over the years.

What is the land classification for Singaravelar Street?

Singaravelar Street is classified as Residential Class II Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for a property in Singaravelar Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a property valued at Rs 11,00,000, the total fees would amount to Rs 99,000.

Which office handles the registration for Singaravelar Street?

The Tambaram Joint 1 Sub Registrar Office handles the registration for Singaravelar Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.