Guideline Value for School Street

School Street guideline value

The current guideline value of School Street in Agaramthen village is Rs 990 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 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 the 2012 revision, the value was set at Rs 900 per sq.ft, which then decreased to Rs 603 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 900 per sq.ft in 2023, and currently stands at Rs 990 per sq.ft as per the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value saw a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Agaramthen

Agaramthen village has a total of 125 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 440 to Rs 3,700 per sq.ft. The median guideline value for these streets is Rs 830 per sq.ft, placing School Street's 2024 figure above this median.

• Sathiyavani Muthu Street: Rs 830 per sq.ft (2024)
• Saravanan Avenue: Rs 2,310 per sq.ft (2024)
• Ruby Greenvillee: Rs 1,770 per sq.ft (2024)
• Sri Brahma Sakthi Nagar: Rs 440 per sq.ft (2024)
• Ramar Street: Rs 830 per sq.ft (2024)
• Ramadoss Nagar: Rs 550 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 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, making the total fees together Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price. 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Agaramthen. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property is sold, the guideline value is used to determine the applicable fees, which are calculated on the higher of the guideline value or the sale price. This ensures that the registration process is transparent and consistent across all transactions.

Frequently asked questions

What is the current guideline value of School Street?

The current guideline value of School Street is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and is currently Rs 990 per sq.ft in 2024.

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 stamp duty and registration fees for properties in School Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, totaling Rs 89,100.

Which office handles the registration for School Street?

The Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059, handles the registration for School Street.