Guideline Value for School Street

School Street guideline value

The current guideline value of School Street in Molachoor village is Rs 600 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Special Type - III.

How the guideline value of School Street has changed

The guideline value for School Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 100 per sq.ft, which increased significantly to Rs 600 per sq.ft in the 2012 revision, marking a 500% increase. However, in the 2017 revision, the value decreased to Rs 402 per sq.ft, a drop of 33%. The 2023 revision maintained the value at Rs 600 per sq.ft, and the same value continues into the 2024 revision, resulting in no percentage change from 2023 to 2024.

It is important to note that there are no figures available for the 2002 and 2003 revisions for School Street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 500%.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft. The median guideline value is Rs 600 per sq.ft, which is equal to the current value of School Street.

• Sathya Nagar: Rs 605 per sq.ft (2024)
• SelvaGanapathy Street: Rs 600 per sq.ft (2024)
• SaraCisilia Avenue: Rs 605 per sq.ft (2024)
• Santha Nagar Extension: Rs 1,000 per sq.ft (2024)
• Santha Nagar: Rs 600 per sq.ft (2024)
• Sakthi Vinayagar Street: Rs 700 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 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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 Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

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

Frequently asked questions

What is the current guideline value of School Street?

The current guideline value of School Street is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 100 per sq.ft in 2007, rising to Rs 600 in 2012, dropping to Rs 402 in 2017, and then remaining at Rs 600 in both 2023 and 2024.

What is the land classification of School Street?

School Street is classified as Residential Special Type - III under the Sunguvarchattram SRO.

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

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

How is stamp duty calculated for property in School Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 6,00,000, the stamp duty would be Rs 42,000 at 7%.