Guideline Value for SCHOOL STREET (WARD -1)

School Street (Ward -1) guideline value

The current guideline value of School Street (Ward -1) in Potheri village is Rs 770 per sq.ft, effective from 1 July 2024. This street falls under the Chengleput Joint II SRO and is classified as Residential Class I Type - III.

How the guideline value of School Street (Ward -1) has changed

The guideline value for School Street has seen several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 700 per sq.ft, and the most recent 2024 revision raised it to Rs 770 per sq.ft, marking a 10% increase from the previous year.

In summary, from the 2012 revision to the 2024 revision, the overall change has been a 10% increase. The changes between the revisions include a 49% increase from 2017 to 2023 and a 33% decrease from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median value is Rs 770 per sq.ft, which aligns with the current guideline value of School Street (Ward -1).

• Shanmugapriya Nagar (Ward-21): Rs 1,651 per sq.ft (2024)
• Samundeeswari Naga Potheri (Ward-20): Rs 1,980 per sq.ft (2024)
• Sheep Farm Road (Ward-21): Rs 660 per sq.ft (2024)
• Ruthra Avenue (Tai): Rs 880 per sq.ft (2024)
• Ramani Thottam (Ward-20): Rs 880 per sq.ft (2024)
• Sri Kamatchi Amman Nagar (Tai): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in School Street (Ward -1)

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. Duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers School Street (Ward -1)?

The Sub Registrar Office that covers School Street (Ward -1) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Potheri. It determines the amount of stamp duty and registration fees that must be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is crucial to be aware of the current guideline value to ensure compliance with the registration requirements. Understanding the guideline value helps in estimating the total costs involved in the transaction.

Frequently asked questions

What is the current guideline value of School Street (Ward -1)?

The current guideline value of School Street (Ward -1) is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then back to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification for School Street (Ward -1)?

School Street (Ward -1) is classified as Residential Class I Type - III.

What is the median guideline value for streets in Potheri?

The median guideline value for streets in Potheri is Rs 770 per sq.ft, which is the same as the current guideline value for School Street (Ward -1).

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.