Guideline Value for School Street

School Street guideline value

The current guideline value of School Street in Koyakbedu village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the AnnaNagar SRO and is classified as Residential Class I Type - II.

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 4,000 per sq.ft, which was then reduced to Rs 2,680 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 4,000 per sq.ft, and the latest 2024 revision has raised it further to Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, the value decreased by 33%, but overall, from 2012 to 2024, there has been a 10% increase. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Koyakbedu

Koyakbedu has a total of 270 streets under the AnnaNagar SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, which is the same as the current value for School Street.

• Sayee Nagar Ist Street: Rs 5,500 per sq.ft (2024)
• Sayee Nagar Ist Cross Street: Rs 4,400 per sq.ft (2024)
• Sayee Nagar Annexe: Rs 5,500 per sq.ft (2024)
• Sayee Nagar 7th and 8th Street: Rs 5,500 per sq.ft (2024)
• Sayee Nagar 6th Street: Rs 5,500 per sq.ft (2024)
• Sayee Nagar 5th Street: Rs 5,500 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 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 covering School Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

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

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures 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 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then back to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for School Street?

School Street is classified as Residential Class I Type - II according to the registration records.

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

The Sub Registrar Office for School Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Koyakbedu?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000.