Guideline Value for School Street

School Street guideline value

The current guideline value of School Street in MummoodiKuppam village is Rs 175 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Class I Type - I.

How the guideline value of School Street has changed

The guideline value for School Street has seen several revisions over the years. The 2012 revision set the value at Rs 175 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 175 per sq.ft. The 2017 revision marked a significant increase to Rs 117 per sq.ft, reflecting a 50% increase from the 2012 figure. Notably, there are no figures available for the years 2002, 2003, and 2007.

From 2012 to 2024, the overall guideline value has remained stable at Rs 175 per sq.ft, showing no change. The 2023 to 2024 revision also reflects a 0% change, indicating consistency in the guideline value for this street over the last few years.

Guideline values in MummoodiKuppam

In MummoodiKuppam, there are 9 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 126 to Rs 350 per sq.ft, with a median value of Rs 150 per sq.ft. School Street's 2024 value of Rs 175 per sq.ft is above this median.

• Sravana Farm House: Rs 150 per sq.ft (2024)
• Perumal Kovil Street: Rs 175 per sq.ft (2024)
• Pallaikara Street: Rs 175 per sq.ft (2024)
• Mummoodikuppam Colony: Rs 126 per sq.ft (2024)
• Kizhandai Third Street: Rs 150 per sq.ft (2024)
• Kizhandai Second Street: 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 175 per sq.ft, the total guideline value amounts to Rs 1,75,000. The stamp duty at 7% would be Rs 12,250, and the registration fee at 2% would be Rs 3,500, bringing the total fees together to Rs 15,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

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 MummoodiKuppam

The guideline value is a critical factor in property transactions in MummoodiKuppam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value for School Street?

The current guideline value for School Street is Rs 175 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 175 per sq.ft since 2012, with a notable increase from Rs 117 per sq.ft in 2017, reflecting a 50% increase. There were no figures available for the years 2002, 2003, and 2007.

What is the land classification for School Street?

School Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the registration fees for a property in School Street?

For a property valued at Rs 1,75,000, the stamp duty would be Rs 12,250, and the registration fee would be Rs 3,500, totaling Rs 15,750.

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

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