Guideline Value for School Street

School Street guideline value

The current guideline value of School Street in Nandhivaram village, under the Gooduvancheri SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of School Street has changed

Over the years, the guideline value of School Street has undergone several revisions. The 2002 revision recorded a guideline value of Rs 78 per sq.ft. This increased significantly to Rs 328 per sq.ft in 2007, marking a rise of 321%. The value further jumped to Rs 1,200 per sq.ft in 2012, reflecting a remarkable increase of 266%. However, from 2012 to 2017, the value decreased to Rs 804 per sq.ft, a drop of 33%. The guideline value then rose again to Rs 1,200 per sq.ft in both the 2023 and 2024 revisions, showing no change between these two years.

It is important to note that the register has no figure for School Street in the 2003 revision. Overall, from 2002 to 2024, the guideline value has increased by 1438%, reaching the current rate of Rs 1,200 per sq.ft.

Guideline values in Nandhivaram

Nandhivaram village features 169 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value is Rs 1,500 per sq.ft, which means School Street's 2024 figure is below this median.

• Sathya Sai Nagar: Rs 1,200 per sq.ft (2024)
• Selvaraj Nagar: Rs 1,000 per sq.ft (2024)
• Sarojini Nagar: Rs 1,000 per sq.ft (2024)
• Selva Vinayagar Nagar: Rs 1,200 per sq.ft (2024)
• Sengazhi Amman Kovil Street: Rs 1,000 per sq.ft (2024)
• Saraswathi Avenue: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in School Street

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total to Rs 1,08,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

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, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Nandhivaram. It helps determine the amount of stamp duty and registration fees that buyers and sellers need to pay, ensuring compliance with local regulations.

When a property is bought or sold, the guideline value serves as a benchmark for the transaction value. This means that the stamp duty is calculated based on the higher of the guideline value and the sale price, which can impact the overall cost of purchasing property in the area.

Frequently asked questions

What is the current guideline value of School Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 78 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, reflecting an overall increase of 1438% over these years.

Where can I find the Sub Registrar Office for School Street?

The Gooduvancheri Sub Registrar Office covers School Street and is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 12,00,000, the stamp duty would be Rs 84,000, and the registration fee would be Rs 24,000, totaling Rs 1,08,000.

What is the median guideline value in Nandhivaram?

The median guideline value in Nandhivaram is Rs 1,500 per sq.ft, which is above the current guideline value of School Street.