Guideline Value for SCHOOL STREET (WARD -15)

School Street (Ward -15) guideline value

The current guideline value of School Street (Ward -15) in Panangottur village is Rs 440 per sq.ft, effective from the 2024 revision. This street falls under the Chengleput Joint II SRO and is classified as Residential Class II Type - II.

How the guideline value of School Street (Ward -15) has changed

Over the years, the guideline value of School Street (Ward -15) has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 268 per sq.ft, reflecting a decrease of 33%. The subsequent 2023 revision increased the value to Rs 400 per sq.ft, and the latest 2024 revision has raised it further to Rs 440 per sq.ft, marking a 10% increase from the previous year.

In summary, the guideline value has changed from Rs 268 per sq.ft in 2017 to Rs 440 per sq.ft in 2024, representing a total increase of 49% over this period. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur, there are 419 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 990 per sq.ft. School Street (Ward -15) is below this median value.

• School Street (Ward -2): Rs 440 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 1,320 per sq.ft (2024)
• Sathya Suriya Garden (Ward -7): Rs 1,320 per sq.ft (2024)
• Seethalai Sathanar Street (Ward -6): Rs 1,320 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, while the registration fee at 2% would be Rs 8,800, bringing the total cost for these fees to Rs 39,600. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more accurate calculations.

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 Panangottur

The guideline value is a crucial factor when registering property transactions in Panangottur. It serves as the basis for calculating stamp duty and registration fees, ensuring that the appropriate taxes are paid during the transfer of property ownership.

When a buyer or seller engages in a property transaction, the guideline value helps determine the minimum value at which the property can be registered. This ensures transparency and compliance with local regulations, safeguarding the interests of both parties involved in the transaction.

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 440 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then back to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

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

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

What are the stamp duty and registration fees for property in School Street (Ward -15)?

For a 1,000 sq.ft plot, the stamp duty would be Rs 30,800 and the registration fee would be Rs 8,800, totaling Rs 39,600 when based on the current guideline value.

Where is the Sub Registrar Office for School Street (Ward -15) located?

The Sub Registrar Office for School Street (Ward -15) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.