Guideline Value for SCHOOL VIEW ROAD

School View Road guideline value

The current guideline value of School View Road in Mylapore village, under the Mylapore SRO, is Rs 9,300 per sq.ft, effective from 1 July 2024. This road falls under the Residential Class III Type - II land classification.

How the guideline value of School View Road has changed

The guideline value for School View Road has seen significant changes over the years. In 2002, the value was Rs 1,145 per sq.ft, which increased to Rs 1,272 per sq.ft in 2003, marking an 11% rise. The value then rose to Rs 1,540 per sq.ft in 2007, reflecting a 21% increase. A substantial jump occurred between 2007 and 2012, where the value surged by 452% to Rs 8,500 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 8,500 per sq.ft.

The most recent revision in 2024 saw the guideline value increase to Rs 9,300 per sq.ft, a 9% rise from the previous year. Notably, there is no figure available for the year 2017 in the register for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with 2024 figures ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing School View Road's 2024 figure above this median.

• School Road: Rs 9,300 per sq.ft (2024)
• Sathyavani Muthu Nagar (Tnscb): Rs 3,300 per sq.ft (2024)
• Sathiyanarayana Avenue: Rs 25,300 per sq.ft (2024)
• Sathiyadevi Avenue Extension: Rs 17,600 per sq.ft (2024)
• Sathiyadevi Avenue: Rs 22,000 per sq.ft (2024)
• Sathiavani Muthu Nagar: Rs 8,200 per sq.ft (2024)

Stamp duty and registration fee for property in School View Road

For a 1,000 sq.ft plot at the current guideline value of Rs 9,300 per sq.ft, the total guideline value would be Rs 93,00,000. The stamp duty at 7% would amount to Rs 6,51,000, and the registration fee at 2% would be Rs 1,86,000, bringing the total to Rs 8,37,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers School View Road?

The Sub Registrar Office that covers School View Road is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of School View Road?

The current guideline value of School View Road is Rs 9,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,145 per sq.ft in 2002 to Rs 9,300 per sq.ft in 2024, reflecting an overall increase of 712% over the years.

What is the land classification for School View Road?

School View Road is classified under Residential Class III Type - II, which is important for determining its guideline value.

What are the stamp duty and registration fees for properties in this area?

For a property valued at the current guideline value of Rs 93,00,000, the stamp duty would be Rs 6,51,000 and the registration fee would be Rs 1,86,000, totaling Rs 8,37,000.

Which Sub Registrar Office handles registrations for School View Road?

The Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018, is responsible for handling registrations for School View Road.