Guideline Value for SCHOOL STREET (WARD -1)

School Street (Ward -1) guideline value

The current guideline value of School Street (Ward -1) in Thailavaram 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 (Ward -1) has undergone several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which was then reduced 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 latest 2024 revision has raised it further to Rs 770 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Thailavaram

In Thailavaram, there are 132 streets under the Chengleput Joint II SRO with a guideline value for 2024 ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 770 per sq.ft, which is equal to the current guideline value of School Street (Ward -1).

• Shanmugapriya Nagar (Ward-21): Rs 1,650 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 881 per sq.ft (2024)
• Ramani Thottam (Ward-20): Rs 881 per sq.ft (2024)
• Sri Kamatchi Amman Nagar (Tai): Rs 881 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 cost for these fees to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the 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, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property in Thailavaram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value will be referenced to determine the applicable fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

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

The current guideline value for 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 significantly. It was Rs 700 per sq.ft in 2012, decreased to Rs 469 per sq.ft in 2017, and then increased to Rs 700 per sq.ft in 2023 before reaching 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 under the current guidelines.

Where can I find the Chengleput Joint II Sub Registrar Office?

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

How is stamp duty calculated for property in School Street (Ward -1)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 770 per sq.ft, the stamp duty would be Rs 53,900.