Guideline Value for SCHOOL STREET (WARD -1)

School Street (Ward -1) guideline value

The current guideline value of School Street (Ward -1) is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Vallancheri village, 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 undergone several revisions over the years. The earliest recorded value is from 2012, which was Rs 700 per sq.ft. This was followed by a decrease to Rs 469 per sq.ft in 2017. In 2023, the value increased to Rs 700 per sq.ft, and then further rose to Rs 770 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a significant decrease of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 825 per sq.ft. The guideline value of School Street (Ward -1) at Rs 770 per sq.ft is below this median.

• 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 880 per sq.ft (2024)
• Rubi Avenue: Rs 1,100 per sq.ft (2024)
• Sree Seshathri Hill View Phase - II: Rs 1,650 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 would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, while the registration fee at 2% would be Rs 15,400. Together, the total cost for stamp duty and registration fee would be Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

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. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Vallancheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value helps in establishing a fair transaction price. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

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?

The guideline value has changed from Rs 700 in 2012 to Rs 469 in 2017, then back to Rs 700 in 2023, and finally to Rs 770 in 2024. The most significant change was a 49% increase from 2017 to 2023.

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

School Street (Ward -1) is classified as Residential Class I Type - III, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for School Street (Ward -1)?

The Sub Registrar Office for School Street (Ward -1) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Vallancheri?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 7,70,000, the stamp duty at 7% would be Rs 53,900.