Guideline Value for School Street

School Street guideline value

The current guideline value of School Street in Kanthoor village is Rs 181 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class II Type - I land classification and is registered with the Sunguvarchattram SRO.

How the guideline value of School Street has changed

In the 2012 revision, the guideline value for School Street was set at Rs 180 per sq.ft. This figure saw a decrease of 33% to Rs 121 per sq.ft in the 2017 revision. Following this, there was a significant increase of 50% in the 2023 revision, bringing the value back to Rs 181 per sq.ft, which remained unchanged in the 2024 revision.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for School Street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by just 1%.

Guideline values in Kanthoor

In Kanthoor, there are 33 streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 150 to Rs 700 per sq.ft. The median value for these streets is Rs 181 per sq.ft, which is equal to the guideline value of School Street.

• Sharma Nagar: Rs 250 per sq.ft (2024)
• Small Street: Rs 150 per sq.ft (2024)
• Road Street: Rs 200 per sq.ft (2024)
• Sri Sai Nagar: Rs 700 per sq.ft (2024)
• Periya Street: Rs 150 per sq.ft (2024)
• ThideerKuppam: Rs 150 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 181 per sq.ft, the total guideline value would be Rs 1,81,000. The stamp duty at 7% would amount to Rs 12,670 and the registration fee at 2% would be Rs 3,620, bringing the total to Rs 16,290. It is important to note that 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 more details.

Which Sub Registrar Office covers School Street?

The Sub Registrar Office that covers School Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Kanthoor. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is compliant with local regulations.

When you register a property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of School Street?

The current guideline value of School Street is Rs 181 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for School Street was Rs 180 per sq.ft in 2012, decreased to Rs 121 per sq.ft in 2017, and then increased back to Rs 181 per sq.ft in 2023, remaining unchanged in 2024.

What is the land classification for School Street?

School Street is classified under Residential Class II Type - I, which indicates its suitability for residential purposes.

How is stamp duty calculated for properties in School Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, on a 1,000 sq.ft plot at the guideline value of Rs 181 per sq.ft, the total guideline value would be Rs 1,81,000.

Where is the Sub Registrar Office for School Street located?

The Sub Registrar Office for School Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.