Guideline Value for School Street

School Street guideline value

The current guideline value of School Street in Kovilpathagai village, under the Ambattur SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of School Street has changed

The guideline value of School Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 800 per sq.ft. This figure decreased to Rs 536 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 800 per sq.ft, followed by another increase to Rs 880 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for these streets is Rs 870 per sq.ft, placing School Street's 2024 figure above this median.

• Sayabu Street: Rs 805 per sq.ft (2024)
• Saraswathi Street: Rs 880 per sq.ft (2024)
• Seyoon Nagar: Rs 806 per sq.ft (2024)
• Shakrath Bilal Nagar: Rs 803 per sq.ft (2024)
• Sannathi Street: Rs 880 per sq.ft (2024)
• Sankaralingam Street: Rs 880 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 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600. Together, the total fees would be Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, 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 Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is an essential factor when registering a property in Kovilpathagai. It determines the amount of stamp duty and registration fees that must be paid at the time of registration. Buyers and sellers should be aware that the guideline value can influence the overall costs involved in the property transaction.

When a property is sold, the guideline value is used to ascertain the minimum value on which the stamp duty is calculated. This ensures that the registration process is transparent and that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of School Street?

The current guideline value of School Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for School Street?

School Street is classified under Residential Class II Type - I land classification.

Where is the Ambattur Sub Registrar Office located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in School Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 61,600.