Guideline Value for SCHOOL STREET

School Street guideline value

The current guideline value of School Street in Perungudi village is Rs 3,300 per sq.ft, effective from 1 July 2024. This property falls under the Neelankarai SRO and is classified as Residential Class II Type - II.

How the guideline value of School Street has changed

The guideline value for School Street has seen significant changes over the years. In 2002, the value was Rs 216 per sq.ft, which rose to Rs 244 per sq.ft in 2003. Following this, there was a substantial increase of 13% from 2002 to 2003. The value then jumped by 146% to Rs 600 per sq.ft in 2007. The next revision in 2012 saw a considerable rise of 400%, bringing the value to Rs 3,000 per sq.ft. However, this figure dropped by 33% to Rs 2,010 per sq.ft in 2017. The 2023 revision set the value at Rs 3,000 per sq.ft, and the latest revision in 2024 increased it by 10% to Rs 3,300 per sq.ft.

Overall, from 2002 to 2024, the guideline value for School Street has increased by 1428%. There are no figures available for revisions in years other than those listed above.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is the same as the current value for School Street.

• Sekizhar Street: Rs 2,800 per sq.ft (2024)
• Sathiyamurthy Street: Rs 3,300 per sq.ft (2024)
• Sasthri Street: Rs 2,800 per sq.ft (2024)
• Santhiappan Salai Cross Street: Rs 3,300 per sq.ft (2024)
• Santhiappan Salai 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Santhiappan Salai 1st Cross Street: Rs 3,300 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost Rs 2,97,000. It is important to note that 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 that covers School Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungudi. It serves as a benchmark for determining the market value of the property, ensuring that the transaction is recorded at a fair price.

When a buyer or seller approaches the registration office, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of School Street?

The current guideline value of School Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 216 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1428% over this period.

What is the land classification for School Street?

School Street is classified as Residential Class II Type - II under the Neelankarai SRO.

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

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles the registration for School Street?

The Neelankarai Sub Registrar Office handles the registration for School Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.