Guideline Value for School Road (East)

School Road (East) guideline value

The current guideline value for School Road (East) in Kodungaiyur village, under the Madhavaram SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of School Road (East) has changed

The guideline value for School Road (East) has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the value increased significantly by 61% to reach the current rate of Rs 2,700 per sq.ft.

There are no figures available for the revisions in 2002, 2003, 2007, and 2023 for this street. Overall, comparing the 2012 and 2024 revisions, there has been a slight increase of 8% in the guideline value.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the 2024 figure for School Road (East).

• School Road (R.V. Nagar): Rs 2,700 per sq.ft (2024)
• School Road (West): Rs 2,700 per sq.ft (2024)
• School Street / School Road: Rs 2,700 per sq.ft (2024)
• School Street (Union Carbide Colony): Rs 2,700 per sq.ft (2024)
• Sathiyavani Muthu Street: Rs 2,200 per sq.ft (2024)
• Seetha Ram Nagar 1st Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in School Road (East)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total charges would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers School Road (East)?

The Sub Registrar Office that covers School Road (East) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both parties are aware of the official value assigned to the property.

When a property is sold, the guideline value helps determine the amount of tax payable to the government. Buyers and sellers must be aware of this value to ensure compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value for School Road (East)?

The current guideline value for School Road (East) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for School Road (East) has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,700 per sq.ft in 2024.

What are the other streets in Kodungaiyur with the same guideline value?

Other streets in Kodungaiyur with the same guideline value of Rs 2,700 per sq.ft include School Road (R.V. Nagar), School Road (West), School Street / School Road, and School Street (Union Carbide Colony).

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in School Road (East) is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.