Guideline Value for SCHOOL STREET (WARD -15)

School Street (Ward -15) guideline value

The current guideline value of School Street (Ward -15) in Peramanoor village is Rs 550 per sq.ft, effective from 1 July 2024. 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 for School Street (Ward -15) has seen several revisions. The 2012 revision set the guideline value at Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 500 per sq.ft. The most recent revision in 2024 has increased the guideline value to Rs 550 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 550 to Rs 2,200 per sq.ft. The median guideline value in the village is Rs 1,100 per sq.ft, placing School Street's 2024 figure below this median.

• School Street (Ward -2): Rs 550 per sq.ft (2024)
• Sattamangalam (Ward -15): Rs 550 per sq.ft (2024)
• Sattamangalam Perumal Koil St (Ward -15): Rs 550 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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total cost for these fees Rs 49,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using 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 Peramanoor

The guideline value is a crucial factor when buying or selling property in Peramanoor, as it determines the minimum value at which property transactions are registered. This value is used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value serves as a benchmark for the sale price. If the sale price is lower than the guideline value, the duty is calculated based on the guideline value to ensure compliance with registration norms.

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 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

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

School Street (Ward -15) is classified as Residential Class II Type - II.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 5,50,000. The stamp duty at 7% is Rs 38,500, and the registration fee at 2% is Rs 11,000, totaling Rs 49,500 for these fees.

Which Sub Registrar Office covers School Street (Ward -15)?

The Chengleput Joint II Sub Registrar Office covers School Street (Ward -15), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.