Guideline Value for SCHOOL STREET

School Street guideline value

The current guideline value of School Street in Kolapakkam village is Rs 1,000 per sq.ft, as per the 2023 revision. This street falls under the Gooduvancheri SRO and is classified as Commercial Class I Type - II.

How the guideline value of School Street has changed

Looking at the historical revisions, the guideline value for School Street was Rs 230 per sq.ft in 2007. This figure saw a significant increase to Rs 1,000 per sq.ft in 2012, marking a rise of 335%. However, in the 2017 revision, the value dropped to Rs 670 per sq.ft, a decrease of 33%. The most recent revision in 2023 restored the value to Rs 1,000 per sq.ft, representing a 49% increase from the 2017 figure.

Overall, from 2007 to 2023, the guideline value has increased by 335%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2024 for this street.

Guideline values in Kolapakkam

Currently, no specific village figures are provided for Kolapakkam. School Street is one of the streets under the jurisdiction of the Gooduvancheri SRO.

Stamp duty and registration fee for property in School Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. It is essential to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers School Street?

The Sub Registrar Office that covers School Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kolapakkam. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these fees are calculated based on a standard value set by the government.

It is important for buyers and sellers to be aware of the guideline value as it impacts the overall cost of the transaction. This value is updated periodically, and it is advisable to check the latest figures before proceeding with any property dealings.

Frequently asked questions

What is the current guideline value of School Street?

The current guideline value of School Street is Rs 1,000 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 230 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then dropping to Rs 670 per sq.ft in 2017, and finally returning to Rs 1,000 per sq.ft in 2023.

What is the classification of land on School Street?

School Street is classified as Commercial Class I Type - II, which indicates the type of commercial activities that can be carried out in this area.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000.