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 Panangottur 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 seen several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft. This was followed by a decrease to Rs 268 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 400 per sq.ft, and in the latest 2024 revision, it rose further to Rs 440 per sq.ft, marking a 10% increase from the previous year.

In summary, the guideline value has changed as follows: from Rs 400 in 2012 to Rs 268 in 2017, a decrease of 33%. Then, it increased to Rs 400 in 2023, a rise of 49%, and finally to Rs 440 in 2024, an increase of 10%. The register does not have 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, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 990 per sq.ft, making the 2024 guideline value for School Street (Ward -2) below this 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, bringing the total to Rs 39,600. Note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

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, 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 buying or selling property in Panangottur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that transactions are registered at a fair value as determined by the government.

When registering a property, the guideline value will be considered alongside the sale price. The higher of the two will be used to calculate the applicable duties and fees, which are essential for the legal transfer of property ownership.

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 in 2012 to Rs 268 in 2017, then increased to Rs 400 in 2023, and finally to Rs 440 in 2024.

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

School Street (Ward -2) is classified as Residential Class II Type - II.

Where can I find the registration office for this area?

The registration office is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000.