Guideline Value for NEW DASS SCHOOL

New Dass School guideline value

The current guideline value for New Dass School in Pallikaranai village is Rs 1,320 per sq.ft, effective from 1 July 2024. This property falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - II.

How the guideline value of New Dass School has changed

The guideline value for New Dass School has seen several revisions over the years. In 2002, the value was Rs 94 per sq.ft, which increased to Rs 111 per sq.ft in 2003. Following this, the value rose significantly to Rs 400 per sq.ft in 2007, and then to Rs 1,200 per sq.ft in 2012. However, it decreased to Rs 804 per sq.ft in 2017. The value then increased to Rs 1,200 per sq.ft in 2023 and is currently set at Rs 1,320 per sq.ft as of the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Notably, there are no figures for the years not mentioned in the register for this street.

Guideline values in Pallikaranai

Pallikaranai has a range of guideline values across its 749 streets under the Chennai South Joint I SRO, with values for 2024 ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value is Rs 1,650 per sq.ft, placing the guideline value of New Dass School below this median.

• New Colony Cross St.: Rs 2,200 per sq.ft (2024)
• New Colony 1st Street: Rs 2,200 per sq.ft (2024)
• New Colony: Rs 2,200 per sq.ft (2024)
• New Nagar: Rs 1,320 per sq.ft (2024)
• New Balaji Nagar: Rs 1,320 per sq.ft (2024)
• Nethaji Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in New Dass School

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total charges to Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers New Dass School?

The Sub Registrar Office that covers New Dass School is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the minimum value of the property for taxation purposes, ensuring that the government receives appropriate revenue from property transactions.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This means that buyers should be aware of the current guideline value to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value for New Dass School?

The current guideline value for New Dass School is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 94 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, reflecting a significant overall increase of 1304% over the years.

What is the classification of land for New Dass School?

The land classification for New Dass School is Residential Class IV Type - II, as per the guidelines.

Where can I find the Sub Registrar Office for New Dass School?

The Sub Registrar Office for New Dass School is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 13,20,000, the stamp duty at 7% would be Rs 92,400.