Guideline Value for Sri Singaravelavan Nagar

Sri Singaravelavan Nagar guideline value

The current guideline value of Sri Singaravelavan Nagar is Rs 1,800 per sq.ft, effective from 1 July 2024. This area is located in Puthagaram village under the Ambattur Sub Registrar Office (SRO), classified as Residential Class I Type - II.

How the guideline value of Sri Singaravelavan Nagar has changed

Over the years, the guideline value of Sri Singaravelavan Nagar has seen several revisions. The 2012 revision set the value at Rs 1,700 per sq.ft, which decreased to Rs 1,139 per sq.ft in the 2017 revision. This was a significant drop of 33%. However, the value rebounded to Rs 1,700 per sq.ft in the 2023 revision, and further increased to Rs 1,800 per sq.ft in the 2024 revision, marking a 6% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 6%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Puthagaram

In Puthagaram village, there are 140 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 1,200 to Rs 3,800 per sq.ft, with a median value of Rs 1,900 per sq.ft. The guideline value of Sri Singaravelavan Nagar is below this median.

• Sri Sarweswari Avenu: Rs 2,200 per sq.ft (2024)
• Sri sakthi Nagar Extention: Rs 2,200 per sq.ft (2024)
• Sri Sakthi Nagar: Rs 2,200 per sq.ft (2024)
• Sri Vengadasai Nagar Anex: Rs 2,201 per sq.ft (2024)
• Sri Vengagasai Nagar: Rs 2,201 per sq.ft (2024)
• Sri Vengatesvera Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Singaravelavan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value would be Rs 18,00,000. The stamp duty at 7% would amount to Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, making a total of Rs 1,62,000. It is important to note that 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 Sri Singaravelavan Nagar?

The Sri Singaravelavan Nagar area falls under the Ambattur Sub Registrar Office located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial figure used during property registration in Puthagaram. It helps determine the stamp duty and registration fees that need to be paid when buying or selling property in this area.

When a property is sold, the transaction must be registered, and the guideline value is used to calculate the applicable fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Sri Singaravelavan Nagar?

The current guideline value of Sri Singaravelavan Nagar is Rs 1,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,700 per sq.ft in 2012 to Rs 1,139 per sq.ft in 2017, then to Rs 1,700 per sq.ft in 2023, and finally to Rs 1,800 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Sri Singaravelavan Nagar?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is charged at 2%. For a 1,000 sq.ft plot, the total costs would be Rs 1,62,000.

Which office handles the registration for Sri Singaravelavan Nagar?

The Ambattur Sub Registrar Office handles the registration for Sri Singaravelavan Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Sri Singaravelavan Nagar?

Sri Singaravelavan Nagar is classified as Residential Class I Type - II, indicating its suitability for residential development.