Guideline Value for School Street

School Street guideline value

The current guideline value of School Street in Mangadu -A, under the Kunrathur SRO, is Rs 1,760 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class I Type - III.

How the guideline value of School Street has changed

The guideline value for School Street has seen significant changes over the years. In the 2017 revision, the value was Rs 1,072 per sq.ft. This increased to Rs 1,600 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision set the value at Rs 1,760 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for School Street.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,870 per sq.ft, placing School Street's 2024 figure below this median.

• Seetharamapuram: Rs 1,760 per sq.ft (2024)
• Sathiya Nagar: Rs 1,480 per sq.ft (2024)
• Selvaganapathy Nagar: Rs 1,980 per sq.ft (2024)
• Senthamizh Nagar: Rs 2,200 per sq.ft (2024)
• Senthamizh Nagar Phase III: Rs 2,200 per sq.ft (2024)
• Senthurpuram: Rs 1,830 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 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total fees together to Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers School Street?

The Sub Registrar Office that covers School Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mangadu -A

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

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is in compliance with local regulations. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of School Street?

The current guideline value of School Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,072 per sq.ft in 2017 to Rs 1,600 per sq.ft in 2023, and then to Rs 1,760 per sq.ft in 2024.

What is the land classification for School Street?

The land classification for School Street is Residential Class I Type - III.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 17,60,000, resulting in a stamp duty of Rs 1,23,200 and a registration fee of Rs 35,200, totaling Rs 1,58,400.

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

The Sub Registrar Office for School Street is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more details online.