Guideline Value for SCHOOL STREET

School Street guideline value

The current guideline value of School Street in Kilkaranai village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Chengleput Joint II SRO and is classified as Residential Special Type - II.

How the guideline value of School Street has changed

The guideline value for School Street has undergone several revisions over the years. In 2012, the value was set at Rs 1,000 per sq.ft. This figure decreased to Rs 670 per sq.ft in 2017, marking a decline of 33%. However, the value saw a significant increase to Rs 1,000 per sq.ft in 2023, followed by another increase to Rs 1,100 per sq.ft in 2024, which is a rise of 10% from the previous year.

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

Guideline values in Kilkaranai

In Kilkaranai village, there are 12 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 1,870 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which is equal to the guideline value of School Street.

• Thirukatchur Flats: Rs 1,320 per sq.ft (2024)
• Muthumariamman Koil Street: Rs 1,100 per sq.ft (2024)
• Mettu Street: Rs 1,100 per sq.ft (2024)
• Vivekantha Nagar: Rs 1,100 per sq.ft (2024)
• 1st Cross Street: Rs 1,100 per sq.ft (2024)
• 2nd Cross Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in School Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. It is important to note that the 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 further 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, in the Chengalpattu registration zone.

To find your SRO, visit find your SRO.

How the guideline value is used when you buy or sell in Kilkaranai

The guideline value plays a crucial role in property transactions in Kilkaranai. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the guideline value as it affects the overall cost of the transaction. Understanding these values can help in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of School Street?

The current guideline value of School Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for School Street?

School Street is classified as Residential Special Type - II.

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

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

How is stamp duty calculated for properties in Kilkaranai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 77,000.