Guideline Value for KAARAIKAZHANI (WARD -2)

Kaaraikazhani (Ward -2) guideline value

The current guideline value of Kaaraikazhani (Ward -2) is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Peramanoor village under the Chengleput Joint II SRO, and is classified as Residential Class II Type - II.

How the guideline value of Kaaraikazhani (Ward -2) has changed

In the 2012 revision, the guideline value was Rs 500 per sq.ft. This figure remained the same until the 2017 revision, where it decreased to Rs 335 per sq.ft, marking a decline of 33%. In the 2023 revision, the value increased to Rs 500 per sq.ft, and further rose to Rs 550 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

From the 2017 revision to 2023, there was a significant increase of 49%. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Kaaraikazhani (Ward -2) below that median.

• Kaanthaliamman Koil Street: Rs 660 per sq.ft (2024)
• J.V.Avenue: Rs 661 per sq.ft (2024)
• Jrk School (N): Rs 1,320 per sq.ft (2024)
• J P Watch Man (Per): Rs 661 per sq.ft (2024)
• Jp Vatsan Enclave: Rs 661 per sq.ft (2024)
• Kaithe Millath Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Kaaraikazhani (Ward -2)

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty, charged at 7%, would be Rs 38,500, while the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kaaraikazhani (Ward -2)?

The Sub Registrar Office that covers Kaaraikazhani (Ward -2) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

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

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid potential legal issues during registration.

Frequently asked questions

What is the current guideline value of Kaaraikazhani (Ward -2)?

The current guideline value of Kaaraikazhani (Ward -2) is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes: it was Rs 500 per sq.ft in 2012, decreased to Rs 335 per sq.ft in 2017, increased to Rs 500 per sq.ft in 2023, and finally rose to Rs 550 per sq.ft in 2024.

What is the land classification for Kaaraikazhani (Ward -2)?

Kaaraikazhani (Ward -2) is classified as Residential Class II Type - II, indicating its suitability for residential development.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is stamp duty calculated for properties in Kaaraikazhani (Ward -2)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 5,50,000, the stamp duty would be 7% of that amount.