Guideline Value for School Street

School Street guideline value

The current guideline value of School Street in Vadakarai village is Rs 660 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of School Street has changed

In the 2017 revision, the guideline value was Rs 402 per sq.ft. This increased to Rs 600 per sq.ft in the 2023 revision, marking a significant rise of 49% over the six years. The current guideline value for 2024 is Rs 660 per sq.ft, reflecting 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 Vadakarai

In Vadakarai, there are 15 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,100 per sq.ft. The median value is Rs 660 per sq.ft, which is equal to the guideline value of School Street.

• Sri Devi Karumari Amman Nagar: Rs 660 per sq.ft (2024)
• S.S. Baba Nagar: Rs 660 per sq.ft (2024)
• S.S. Baba Nagar Annex: Rs 550 per sq.ft (2024)
• S.S. Baba Nagar Annex - I: Rs 550 per sq.ft (2024)
• Thiruvalluvar Street: Rs 660 per sq.ft (2024)
• New Sun City: Rs 440 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 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, making the total cost for these fees Rs 59,400. 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process for property transactions in Vadakarai. It serves as a benchmark for determining the minimum value at which a property can be registered.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both buyers and sellers have a clear understanding of the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of School Street?

The current guideline value of School Street is Rs 660 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased by 64%, from Rs 402 per sq.ft to Rs 660 per sq.ft in 2024.

What is the stamp duty rate for properties in School Street?

The stamp duty rate for properties in School Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

Are there any years with no guideline value for School Street?

Yes, the guideline value register has no figures for School Street for the years 2002, 2003, 2007, and 2012.