Guideline Value for SCHOOL STREET (WARD -2)

School Street (Ward -2) guideline value

The current guideline value of School Street (Ward -2) in Peramanoor village is Rs 550 per sq.ft, effective from 1 July 2024. This property falls under the Chengleput Joint II SRO and is classified as 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. In the 2012 revision, the value was Rs 500 per sq.ft. This decreased to Rs 335 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 500 per sq.ft, and the latest revision in 2024 has set the value at Rs 550 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, 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 value among these streets is Rs 1,100 per sq.ft, placing School Street (Ward -2) below that median.

• School Street (Ward -15): Rs 550 per sq.ft (2024)
• Seerapuranam Street (N): Rs 1,320 per sq.ft (2024)
• Sattamangalam (Ward -15): Rs 550 per sq.ft (2024)
• Seethalai Sathanar Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Sattamangalam Perumal Koil St (Ward -15): Rs 550 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 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, while the registration fee at 2% would be Rs 11,000, bringing the total cost to Rs 49,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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 Peramanoor

The guideline value is a crucial component in the registration process of property transactions in Peramanoor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling a property.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the government receives the appropriate revenue from 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 550 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 500 per sq.ft in 2012, decreasing to Rs 335 per sq.ft in 2017, and then increasing to Rs 500 per sq.ft in 2023. The latest revision in 2024 has set the value at Rs 550 per sq.ft.

What are the other streets with guideline values in Peramanoor?

In Peramanoor, other streets have varying guideline values. For instance, Seerapuranam Street (N) has a guideline value of Rs 1,320 per sq.ft, while several streets like School Street (Ward -15) and Sattamangalam (Ward -15) share the same value as School Street (Ward -2) at Rs 550 per sq.ft.

What fees are associated with buying property in School Street (Ward -2)?

When purchasing property in School Street (Ward -2), buyers must pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher. For example, on a 1,000 sq.ft plot, the total guideline value would be Rs 5,50,000, resulting in a total cost of Rs 49,500 for duties and fees.

Where can I find the Sub Registrar Office for School Street (Ward -2)?

The Chengleput Joint II Sub Registrar Office covers School Street (Ward -2) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information about your SRO through the provided link.