Guideline Value for School Street

School Street guideline value

The current guideline value of School Street in Selaiyur village is Rs 850 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur Sub Registrar Office (SRO) and is classified as Residential Class V Type - I.

How the guideline value of School Street has changed

The guideline value for School Street has undergone several revisions over the years. In 2012, the value was Rs 800 per sq.ft, which then decreased to Rs 536 per sq.ft in 2017. Following this, the value increased significantly to Rs 800 per sq.ft in 2023, and most recently, it has risen to Rs 850 per sq.ft in 2024, marking a 6% increase from the previous year.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, from 2012 to 2024, the value has increased by 6%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that the guideline value for School Street is below this median.

• Secratoriyam Colony: Rs 1,300 per sq.ft (2024)
• Sekar Avenue: Rs 2,750 per sq.ft (2024)
• Selaiyur Hall: Rs 1,600 per sq.ft (2024)
• Seliyur Eswari Nagar Ext: Rs 2,400 per sq.ft (2024)
• Seliyur Kulakari Street Ext: Rs 1,400 per sq.ft (2024)
• Selaiyur & Rajakilpakam Ganesh Nagar Main Road: Rs 2,400 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 850 per sq.ft, the total guideline value amounts to Rs 8,50,000. The stamp duty is charged at 7%, which totals Rs 59,500, and the registration fee at 2% amounts to Rs 17,000. Thus, the combined total for stamp duty and registration fee is Rs 76,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also 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 Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Selaiyur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When a buyer or seller engages in a property transaction, the guideline value is referenced to determine the applicable fees. This value helps maintain transparency and consistency in property dealings, providing a clear framework for all parties involved.

Frequently asked questions

What is the current guideline value of School Street?

The current guideline value of School Street is Rs 850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 850 per sq.ft in 2024.

What is the median guideline value for streets in Selaiyur?

The median guideline value for streets in Selaiyur is Rs 2,200 per sq.ft, which is higher than the guideline value for School Street.

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

For a property valued at Rs 8,50,000, the stamp duty is Rs 59,500 and the registration fee is Rs 17,000, totaling Rs 76,500.

Where is the Sub Registrar Office for School Street located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.