Guideline Value for SCHOOL STREET

School Street guideline value

The current guideline value of School Street in Chengalpattu Natham village is Rs 1,650 per sq.ft, effective from 1 July 2024. This area falls under the Chengleput Joint II SRO and is classified as Residential Class I Type - I.

How the guideline value of School Street has changed

The guideline value for School Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. Following this, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% increase from the 2017 figure. The most recent revision in 2024 has further increased the value to Rs 1,650 per sq.ft, reflecting a 10% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for School Street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Chengalpattu Natham

In Chengalpattu Natham, there are 88 streets under the Chengleput Joint II SRO that have a guideline value for 2024, ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making the current guideline value of School Street below this median.

• Shoemakers Street: Rs 1,650 per sq.ft (2024)
• Ryder Sabapathi Street: Rs 1,650 per sq.ft (2024)
• Rajaji Street No.1: Rs 5,500 per sq.ft (2024)
• Railway Colony: Rs 2,200 per sq.ft (2024)
• Pramanar Street: Rs 5,500 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in School Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers School Street?

The Sub Registrar Office that covers School Street 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 Chengalpattu Natham

The guideline value is a crucial factor during the registration process of property transactions in Chengalpattu Natham. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid by the buyer. The guideline value is assessed periodically and can vary based on location and property type.

When buying or selling property, it is essential to refer to the current guideline value to ensure compliance with local regulations. This value not only influences the financial aspects of the transaction but also plays a role in the legal documentation required for property registration.

Frequently asked questions

What is the current guideline value of School Street?

The current guideline value of School Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for School Street?

School Street is classified as Residential Class I Type - I under the Chengleput Joint II SRO.

How does the guideline value compare to other streets in Chengalpattu Natham?

The guideline value of School Street at Rs 1,650 per sq.ft is below the median value of Rs 2,200 per sq.ft for other streets in Chengalpattu Natham.

Where can I find the Sub Registrar Office for School Street?

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