Guideline Value for SCHOOL STREET (WARD -2)

School Street (Ward -2) guideline value

The current guideline value of School Street (Ward -2) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village under the Chengleput Joint II SRO, classified as Residential Class I Type - III.

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

In the 2012 revision, the guideline value was set at Rs 600 per sq.ft. This figure remained unchanged in the 2017 revision, where it was reduced to Rs 402 per sq.ft, marking a decrease of 33%. The value then rose significantly to Rs 600 per sq.ft in the 2023 revision, reflecting an increase of 49%. The latest revision in 2024 has seen the guideline value increase to Rs 660 per sq.ft, a rise of 10% from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing School Street (Ward -2) below this median.

• School Street (Ward -15): Rs 660 per sq.ft (2024)
• Seerapuranam Street (N): Rs 1,321 per sq.ft (2024)
• Sattamangalam (Ward -15): Rs 440 per sq.ft (2024)
• Seethalai Sathanar Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Sattamangalam Perumal Koil St (Ward -15): Rs 440 per sq.ft (2024)
• Sathya Suriya Garden (Ward -7): Rs 1,321 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 rate of Rs 660 per sq.ft, the guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, while the registration fee at 2% would be Rs 13,200, totaling 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 -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 Ninna Karai

The guideline value is a crucial factor in the registration process when buying or selling property in Ninna Karai. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value serves as a reference point for both the buyer and seller. It is essential to be aware of the current guideline value to understand the financial implications of the transaction, including the costs associated with registration.

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

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 600 per sq.ft in 2012, dropping to Rs 402 per sq.ft in 2017, then rising to Rs 600 per sq.ft in 2023, and finally reaching Rs 660 per sq.ft in 2024.

What is the land classification of School Street (Ward -2)?

School Street (Ward -2) is classified as Residential Class I Type - III under the Chengleput Joint II SRO.

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

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Where is the Sub Registrar Office for School Street (Ward -2) located?

The Sub Registrar Office for School Street (Ward -2) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.