Guideline Value for M.M. School Street

M.M. School Street guideline value

The current guideline value of M.M. School Street in Puzhal village, under the Redhills SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of M.M. School Street has changed

The guideline value for M.M. School Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 1,264 per sq.ft. This was followed by a significant drop in the 2003 revision to Rs 128 per sq.ft, a decrease of 90%. The value then increased to Rs 300 per sq.ft in 2007, marking a rise of 134%. In 2012, it further increased to Rs 800 per sq.ft, an increase of 167%. However, the 2017 revision saw a decrease to Rs 536 per sq.ft, which was a drop of 33%. The value then increased again to Rs 1,000 per sq.ft in the 2023 revision, and the latest revision in 2024 set it at Rs 1,100 per sq.ft, reflecting a 10% increase.

Overall, from the 2002 revision to the 2024 revision, the guideline value has decreased by 13%. There are no figures available for the years between these revisions for M.M. School Street.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,102 per sq.ft. The guideline value for M.M. School Street is below this median.

• M.R. Nagar: Rs 1,100 per sq.ft (2024)
• Mettu Street Main Street: Rs 1,650 per sq.ft (2024)
• Mettu Street First Street: Rs 1,650 per sq.ft (2024)
• Mettu Street 2nd Street: Rs 1,650 per sq.ft (2024)
• Mettu Street 2nd Lane: Rs 1,650 per sq.ft (2024)
• Mettu Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in M.M. School 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 be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total charges to Rs 99,000. 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 M.M. School Street?

The Sub Registrar Office that covers M.M. School Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Puzhal. It is used as a basis for calculating stamp duty and registration fees when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure that they comply with legal requirements during the registration process.

When a property is registered, the guideline value is considered alongside the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees, ensuring that the correct amounts are paid to the authorities.

Frequently asked questions

What is the current guideline value of M.M. School Street?

The current guideline value of M.M. School Street is Rs 1,100 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,264 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, with various increases and decreases in between.

What are the stamp duty and registration fees for properties in M.M. School Street?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles registrations for M.M. School Street?

The Redhills Sub Registrar Office handles registrations for M.M. School Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for M.M. School Street?

The land classification for M.M. School Street is Residential Class II Type - I.