Guideline Value for SCHOOL LANE

School Lane guideline value

The current guideline value of School Lane in Perambur village, under the Purasaivakkam SRO, is Rs 5,400 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - I.

How the guideline value of School Lane has changed

The guideline value for School Lane has undergone several revisions over the years. Starting from Rs 382 per sq.ft in 2002, it increased to Rs 419 per sq.ft in 2003. The value then rose significantly to Rs 800 per sq.ft in 2007, followed by a substantial increase to Rs 5,000 per sq.ft in 2012. However, it decreased to Rs 3,350 per sq.ft in 2017 before climbing back to Rs 5,000 per sq.ft in 2023, and finally reaching Rs 5,400 per sq.ft in 2024.

The changes between the revisions indicate a notable increase overall. From 2002 to 2024, the guideline value has risen by 1,314%. The increase from 2023 to 2024 is 8%, while the jump from 2017 to 2023 was 49%. The value saw a decrease of 33% from 2012 to 2017, and a remarkable increase of 525% from 2007 to 2012. The increase from 2003 to 2007 was 91%, and from 2002 to 2003, it was 10.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO, with guideline values for 2024 ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, and School Lane's 2024 figure of Rs 5,400 per sq.ft is above this median.

• School Road: Rs 6,400 per sq.ft (2024)
• S.B.O.A Colony 2nd Street: Rs 6,400 per sq.ft (2024)
• S.B.O.A Colony 1st Street: Rs 6,400 per sq.ft (2024)
• S.B.O.A Colony: Rs 6,400 per sq.ft (2024)
• Sathyavani Muthu Nagar 9th Street: Rs 2,700 per sq.ft (2024)
• Sathyavani Muthu Nagar 8th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in School Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,400 per sq.ft, the total guideline value amounts to Rs 54,00,000. The stamp duty at 7% would be Rs 3,78,000, and the registration fee at 2% would be Rs 1,08,000, bringing the total fees to Rs 4,86,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers School Lane?

The Sub Registrar Office that covers School Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Perambur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property. Buyers and sellers must ensure that the property is registered at or above the guideline value to comply with local regulations.

When a property is sold, the guideline value helps in establishing a fair and standardized method for assessing the transaction value. This ensures transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of School Lane?

The current guideline value of School Lane is Rs 5,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 382 per sq.ft in 2002 to Rs 5,400 per sq.ft in 2024, showing an overall increase of 1,314% over the years.

What is the land classification for School Lane?

School Lane is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in School Lane?

For a 1,000 sq.ft plot, the total guideline value is Rs 54,00,000. The stamp duty would be Rs 3,78,000, and the registration fee would be Rs 1,08,000, totaling Rs 4,86,000.

Where is the Sub Registrar Office for School Lane located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, and it covers School Lane.