Guideline Value for SCHOOL ROAD (NEAR KUPPAM)

School Road (Near Kuppam) guideline value

The current guideline value of School Road (Near Kuppam) is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in the Sholinganallur - 1 village under the Neelankarai SRO, and it falls under the Residential Class IV Type - I land classification.

How the guideline value of School Road (Near Kuppam) has changed

The guideline value for School Road (Near Kuppam) has seen significant changes over the years. In the 2017 revision, the value was Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 raised the guideline value to Rs 1,700 per sq.ft, marking a 13% increase from the previous year. Overall, from 2017 to 2024, there has been a total increase of 69%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. School Road (Near Kuppam) is below this median.

• School Road (Near K.K.Salai): Rs 3,300 per sq.ft (2024)
• School Road (Near Ecr): Rs 2,200 per sq.ft (2024)
• School Salai 1st Street: Rs 3,300 per sq.ft (2024)
• SCHOOL ROAD 1st STREET (NEAR K.K.SALAI): Rs 3,300 per sq.ft (2024)
• School Road: Rs 3,300 per sq.ft (2024)
• School Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in School Road (Near Kuppam)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees to Rs 1,53,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers School Road (Near Kuppam)?

The Sub Registrar Office that covers School Road (Near Kuppam) 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 information.

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

When buying or selling property in Sholinganallur - 1, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price.

Understanding the guideline value helps buyers and sellers to be informed about the costs associated with property transactions. It is essential to refer to the latest revisions to ensure compliance with the current rates set by the Registration Department.

Frequently asked questions

What is the current guideline value of School Road (Near Kuppam)?

The current guideline value of School Road (Near Kuppam) is Rs 1,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,005 per sq.ft to Rs 1,700 per sq.ft in 2024, representing a total increase of 69% over this period.

What are the stamp duty and registration fees for a property on School Road (Near Kuppam)?

The stamp duty for a property valued at Rs 17,00,000 would be Rs 1,19,000, and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which Sub Registrar Office is responsible for School Road (Near Kuppam)?

The Neelankarai Sub Registrar Office is responsible for School Road (Near Kuppam), located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for School Road (Near Kuppam)?

School Road (Near Kuppam) is classified under Residential Class IV Type - I.