Guideline Value for S.B.M. School Road

S.B.M. School Road guideline value

The current guideline value of S.B.M. School Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of S.B.M. School Road has changed

The guideline value for S.B.M. School Road has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 235 per sq.ft, which increased to Rs 255 per sq.ft in 2003. The value saw a significant rise to Rs 700 per sq.ft in 2007, followed by a further increase to Rs 2,000 per sq.ft in 2012. However, in the 2017 revision, the value decreased to Rs 1,340 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, marking an increase of 64% from the 2017 figure.

Overall, from 2002 to 2024, the guideline value has increased by 836%. It is important to note that there are no figures available for the 2023 revision for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that have a guideline value for 2024, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing S.B.M. School Road's 2024 figure below that median.

• School Street: Rs 2,700 per sq.ft (2024)
• Sathiya Sai Nagar: Rs 2,200 per sq.ft (2024)
• Sasthri Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Sasthri Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Sasthri Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Avenue: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in S.B.M. School Road

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total cost of Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers S.B.M. School Road?

The S.B.M. School Road is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction.

When you register a property, the authorities will refer to the guideline value to calculate the necessary fees. This ensures that the transaction is recorded accurately and complies with the regulations set by the state.

Frequently asked questions

What is the current guideline value of S.B.M. School Road?

The current guideline value of S.B.M. School Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 235 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 836% over this period.

What is the registration office for S.B.M. School Road?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, covers S.B.M. School Road.

What are the stamp duty and registration fees for a property on S.B.M. School Road?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Are there other streets in Kolathur with different guideline values?

Yes, there are other streets in Kolathur with varying guideline values, ranging from Rs 2,200 to Rs 6,000 per sq.ft, with the median being Rs 3,300 per sq.ft.