Guideline Value for SchoolRoad

SchoolRoad guideline value

The current guideline value of SchoolRoad is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and is classified as Residential Class III Type - I.

How the guideline value of SchoolRoad has changed

The guideline value for SchoolRoad has undergone several revisions over the years. Starting from Rs 627 per sq.ft in 2002, it increased to Rs 692 per sq.ft in 2003. The value saw a significant rise to Rs 1,200 per sq.ft in 2007, followed by a drop to Rs 3,600 per sq.ft in 2012. In 2017, it further increased to Rs 2,412 per sq.ft, and by 2023, it reached Rs 3,600 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 3,900 per sq.ft.

Between the revisions, there have been notable changes. From 2002 to 2003, the increase was +10%. The value surged by +73% from 2003 to 2007. There was a significant rise of +200% from 2007 to 2012, followed by a decrease of -33% from 2012 to 2017. The value then increased by +49% from 2017 to 2023, and the latest revision from 2023 to 2024 reflects an increase of +8%. Overall, from 2002 to 2024, the guideline value has increased by +522%.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 7,100 per sq.ft, making SchoolRoad's 2024 figure below that median.

• Scan IceLIne: Rs 6,300 per sq.ft (2024)
• Savuri Muthu Lane: Rs 6,300 per sq.ft (2024)
• Sathya Vani Muthu Nagar (huts): Rs 2,800 per sq.ft (2024)
• Sastri Nagar (All Streets): Rs 3,400 per sq.ft (2024)
• Selvanathan street: Rs 7,100 per sq.ft (2024)
• Sami reddy street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in SchoolRoad

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, together totaling Rs 3,51,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers SchoolRoad?

The Sub Registrar Office that covers SchoolRoad is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Egmore. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a reference point for both the buyer and seller. It is essential to be aware of the current guideline value to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value of SchoolRoad?

The current guideline value of SchoolRoad is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 627 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of +522% over the years.

What is the land classification for SchoolRoad?

SchoolRoad is classified as Residential Class III Type - I, which indicates the type of development permitted in this area.

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

For a property valued at the current guideline value of Rs 39,00,000, the stamp duty would be Rs 2,73,000, and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Where is the Sub Registrar Office for SchoolRoad located?

The Sub Registrar Office covering SchoolRoad is located at 1103, Poonamallee High Road, Chennai-600 003, under the Periamet registration zone.