Guideline Value for MODEL SCHOOL EXTENSION ROAD

Model School Extension Road guideline value

The current guideline value of Model School Extension Road is Rs 2,800 per sq.ft, effective from 1 July 2024. This road is located in the village of Sholinganallur - 1 under the Neelankarai SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Model School Extension Road has changed

The guideline value for Model School Extension Road has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 2,500 per sq.ft, which increased by 12% to Rs 2,800 per sq.ft in the 2024 revision.

This increase reflects a notable change in the guideline value within a year. The 2024 figure of Rs 2,800 per sq.ft is the most current and represents an upward adjustment from the previous year's value.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with a guideline value for 2024 ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Model School Extension Road above this median.

• Model School Road: Rs 4,400 per sq.ft (2024)
• Model School Road Extension: Rs 2,800 per sq.ft (2024)
• Modern Builders 10th Main Road: Rs 4,400 per sq.ft (2024)
• Modern Builders 11th Main Road: Rs 4,400 per sq.ft (2024)
• Modern Builders 12th Main Road: Rs 4,400 per sq.ft (2024)
• Modern Builders 13th Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Model School Extension Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total cost to Rs 2,52,000. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Model School Extension Road?

The Sub Registrar Office that covers Model School Extension Road 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 details.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor during the registration of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

Buyers and sellers must be aware that the guideline value is used to calculate the applicable duties, ensuring that the registration process adheres to the legal requirements set forth by the authorities.

Frequently asked questions

What is the current guideline value for Model School Extension Road?

The current guideline value for Model School Extension Road is Rs 2,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 2,500 per sq.ft in 2023 to Rs 2,800 per sq.ft in 2024, reflecting a 12% increase.

What is the land classification for Model School Extension Road?

Model School Extension Road falls under the Residential Class II Type - II land classification.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties on Model School Extension Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 28,00,000, leading to a stamp duty of Rs 1,96,000.