Guideline Value for SCHOOL STREET (WARD -2)

School Street (Ward -2) guideline value

The current guideline value of School Street (Ward -2) is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Kattankollatur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of School Street (Ward -2) has changed

The guideline value for School Street (Ward -2) has undergone several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which was then reduced to Rs 268 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 400 per sq.ft in the 2023 revision, and then to Rs 440 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 for this street.

From the 2012 revision to the 2024 revision, the overall change in guideline value is an increase of 10%. The increase from the 2017 revision to the 2023 revision was 49%, while the change from the 2012 revision to the 2017 revision was a decrease of 33%.

Guideline values in Kattankollatur

Kattankollatur has a total of 453 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,612 per sq.ft as of 2024. The median guideline value in this area is Rs 1,100 per sq.ft, which means that the guideline value of School Street (Ward -2) is below that median.

• School Street (Ward -15): Rs 440 per sq.ft (2024)
• Seerapuranam Street (N): Rs 1,320 per sq.ft (2024)
• Sattamangalam (Ward -15): Rs 440 per sq.ft (2024)
• Seethalai Sathanar Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Sattamangalam Perumal Koil St (Ward -15): Rs 440 per sq.ft (2024)
• Sathya Suriya Garden (Ward -7): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in School Street (Ward -2)

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, making the total cost for these fees Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details on fees applicable to your property transaction.

Which Sub Registrar Office covers School Street (Ward -2)?

The Sub Registrar Office that covers School Street (Ward -2) 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 Kattankollatur

The guideline value is a critical figure used in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Kattankollatur, this value is essential for calculating stamp duty and registration fees, which are mandatory during the registration process.

It is important for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements and to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of School Street (Ward -2)?

The current guideline value of School Street (Ward -2) is Rs 440 per sq.ft, effective from 1 July 2024.

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 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 -2)?

The land classification for School Street (Ward -2) is Residential Class II Type - II.

What are the stamp duty and registration fees for a property in School Street (Ward -2)?

For a 1,000 sq.ft plot, the total guideline value is Rs 4,40,000, with a stamp duty of Rs 30,800 and a registration fee of Rs 8,800, totaling Rs 39,600.

Which Sub Registrar Office covers School Street (Ward -2)?

The Chengleput Joint II Sub Registrar Office covers School Street (Ward -2), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.