Guideline Value for S.B.M.School Street Main Street

S.B.M.School Street Main Street guideline value

The current guideline value of S.B.M.School Street Main Street in Thiruverkadu village, under the Kunrathur SRO, is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - I.

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

The guideline value for S.B.M.School Street Main Street has undergone several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in 2017. Following this, there was a significant increase to Rs 1,600 per sq.ft in 2023, and the latest revision in 2024 sets the value at Rs 1,760 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 59%. The most recent change from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 17% from 2012 to 2024.

Guideline values in Thiruverkadu

In Thiruverkadu, there are 178 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,430 to Rs 3,520 per sq.ft. The median guideline value for these streets is Rs 1,540 per sq.ft, positioning S.B.M.School Street Main Street above this median.

• S.B.M.School Street 2nd Cross Street: Rs 1,540 per sq.ft (2024)
• S.B.M.School Street 1st Cross Street: Rs 1,540 per sq.ft (2024)
• Selva Ganapathy Nagar: Rs 1,540 per sq.ft (2024)
• Selva Ganapathy Nagar 1st Cross Street: Rs 1,540 per sq.ft (2024)
• Selva Ganapathy Nagar 2nd Cross Street: Rs 1,540 per sq.ft (2024)
• Selva Ganapathy Nagar 2nd Main Road: Rs 1,540 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total fees together to Rs 1,58,400. It is important to note that the 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 S.B.M.School Street Main Street?

The Sub Registrar Office that covers S.B.M.School Street Main Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

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

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

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

The current guideline value of S.B.M.School Street Main Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,760 per sq.ft in 2024.

What is the land classification for S.B.M.School Street Main Street?

S.B.M.School Street Main Street is classified as Residential Special Type - I.

Which Sub Registrar Office is responsible for S.B.M.School Street Main Street?

The Kunrathur Sub Registrar Office is responsible for S.B.M.School Street Main Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Thiruverkadu?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.