Guideline Value for School Street

School Street guideline value

The current guideline value of School Street in Vayaloor village is Rs 155 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 undergone several revisions over the years. In 2012, the value was set at Rs 150 per sq.ft, which then decreased to Rs 100 per sq.ft in 2017. Following this, the value increased significantly by 50% to Rs 150 per sq.ft in 2023. The most recent revision in 2024 saw a further increase of 3%, bringing the current value to Rs 155 per sq.ft. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Overall, from 2012 to 2024, the guideline value for School Street has increased by 3%. The fluctuations in value reflect the changes in the real estate landscape over the years, with notable increases between 2017 to 2023 and a modest rise from 2023 to 2024.

Guideline values in Vayaloor

In Vayaloor, there are 18 streets under the Sunguvarchattram SRO that carry a guideline value for 2024, ranging from Rs 105 to Rs 155 per sq.ft. The median value among these streets is Rs 105 per sq.ft, making School Street's value of Rs 155 per sq.ft above the median.

• Stalin Nagar: Rs 155 per sq.ft (2024)
• Perumal Kovil Street: Rs 126 per sq.ft (2024)
• Surakapuram Arunthathipuram North Street: Rs 105 per sq.ft (2024)
• Surakapuram irular Colony: Rs 105 per sq.ft (2024)
• Surakapuram Melandai Street: Rs 105 per sq.ft (2024)
• Surakapuram Nadu Street: Rs 105 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 155 per sq.ft, the total guideline value amounts to Rs 1,55,000. The stamp duty, charged at 7%, would be Rs 10,850, and the registration fee at 2% would be Rs 3,100, bringing the total fees to Rs 13,950. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

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 Vayaloor

The guideline value plays a crucial role in the registration process when buying or selling property in Vayaloor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property transaction occurs, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, and it helps in maintaining transparency in the real estate market.

Frequently asked questions

What is the current guideline value of School Street?

The current guideline value of School Street is Rs 155 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2012 to Rs 100 per sq.ft in 2017, then increased to Rs 150 per sq.ft in 2023, and finally to Rs 155 per sq.ft in 2024.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees amount to Rs 13,950.

Which Sub Registrar Office covers School Street?

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

What is the median guideline value for streets in Vayaloor?

The median guideline value for the 18 streets in Vayaloor is Rs 105 per sq.ft, with School Street's value being above this median at Rs 155 per sq.ft.