Guideline Value for SCHOOL STREET

School Street guideline value

The current guideline value of School Street in Cheyyur, a village under the Cheyyur SRO, is Rs 200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of School Street has changed

The guideline value for School Street has remained at Rs 200 per sq.ft since the 2023 revision, which also recorded the same value. Prior to that, the 2017 revision had set the value at Rs 134 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2012.

From 2017 to 2023, the guideline value increased by 49%, and there has been no change from 2023 to 2024, resulting in an overall increase of 49% from 2017 to 2024.

Guideline values in Cheyyur - A

In Cheyyur - A, there are 64 streets under the Cheyyur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 500 per sq.ft. The median value for these streets is Rs 101 per sq.ft, placing School Street's 2024 figure above this median.

• Selvavinayagar Kovil Street: Rs 100 per sq.ft (2024)
• Shanmuga Nagar: Rs 101 per sq.ft (2024)
• Soubakiya Nagar: Rs 202 per sq.ft (2024)
• R.C.VELLIMEDU 2st STREET: Rs 101 per sq.ft (2024)
• R.C.VELLIMEDU 1st STREET: Rs 101 per sq.ft (2024)
• Ramalingaswamy Koil Street: Rs 101 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 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers School Street?

The Sub Registrar Office covering School Street is the Cheyyur Sub Registrar Office, located at 3/156, Salt Road, Cheyyur- 603 302, Chengalpattu registration zone. You can find your SRO for additional information.

How the guideline value is used when you buy or sell in Cheyyur - A

The guideline value is an important factor when registering property transactions in Cheyyur - A. It determines the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value for taxation purposes.

When buying or selling property, the guideline value is used to calculate applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value for School Street?

The current guideline value for School Street is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has been Rs 200 per sq.ft since 2023, and it was Rs 134 per sq.ft in 2017. There has been a 49% increase from 2017 to 2023, and no change from 2023 to 2024.

What is the land classification for School Street?

School Street is classified under Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in School Street?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000.

Where is the Sub Registrar Office for School Street located?

The Cheyyur Sub Registrar Office is located at 3/156, Salt Road, Cheyyur- 603 302, Chengalpattu registration zone.