Guideline Value for SCHOOL STREET (WARD -15)

School Street (Ward -15) guideline value

The current guideline value of School Street (Ward -15) in Ninna Karai village is Rs 660 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 -15) has changed

Looking back at the revisions, the guideline value for School Street (Ward -15) was Rs 600 per sq.ft in 2023, which increased to Rs 660 per sq.ft in 2024, marking a change of +10%. Prior to that, in 2017, the value was Rs 402 per sq.ft, reflecting a significant increase of +49% to reach the 2023 figure. The 2012 revision also recorded a value of Rs 600 per sq.ft, which was a decrease of -33% from Rs 402 per sq.ft in 2017.

The overall change from the 2012 revision to the 2024 revision shows a modest increase of +10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing the current guideline value of School Street (Ward -15) below this median.

• School Street (Ward -2): Rs 660 per sq.ft (2024)
• Sattamangalam (Ward -15): Rs 440 per sq.ft (2024)
• Sattamangalam Perumal Koil St (Ward -15): Rs 440 per sq.ft (2024)
• Seerapuranam Street (N): Rs 1,321 per sq.ft (2024)
• Sathya Suriya Garden (Ward -7): Rs 1,321 per sq.ft (2024)
• Seethalai Sathanar Street (Ward -6): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in School Street (Ward -15)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty, charged at 7%, would be Rs 46,200, while the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. 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 -15)?

The Sub Registrar Office that covers School Street (Ward -15) 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 Ninna Karai

The guideline value plays a crucial role in the registration process when buying or selling property in Ninna Karai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared against the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate fees based on the property's value.

Frequently asked questions

What is the current guideline value of School Street (Ward -15)?

The current guideline value of School Street (Ward -15) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024, a +10% increase. It was Rs 402 per sq.ft in 2017, which increased by +49% to reach the 2023 figure.

What is the land classification for School Street (Ward -15)?

School Street (Ward -15) is classified as Residential Class I Type - III, indicating its suitability for residential development.

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, Chengalpattu registration zone.

How is the stamp duty calculated for properties in School Street (Ward -15)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 at 7%.