Guideline Value for MAIN STREET (WARD -8)

Main Street (Ward -8) guideline value

The current guideline value of Main Street (Ward -8) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Peramanoor village and falls under the Chengleput Joint II SRO, classified as Residential Special Type - V.

How the guideline value of Main Street (Ward -8) has changed

The guideline value for Main Street (Ward -8) has undergone several revisions over the years. The oldest available figure is from the 2012 revision, which was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in the 2017 revision. The 2023 revision saw an increase to Rs 1,200 per sq.ft, and the most recent 2024 revision has set the value at Rs 1,320 per sq.ft. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 among these streets is Rs 1,100 per sq.ft, placing Main Street (Ward -8) above the median at Rs 1,320 per sq.ft.

• Malar Aveunue (N): Rs 661 per sq.ft (2024)
• Maha Ngar Phase -1,2,3 (Pa): Rs 661 per sq.ft (2024)
• Mamarathu Gate Union Road (Per): Rs 990 per sq.ft (2024)
• Mangayarkarasi Street (Ward -6): Rs 1,760 per sq.ft (2024)
• Manickavasagar Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Madha Koil Street (Ward -18): Rs 661 per sq.ft (2024)

Stamp duty and registration fee for property in Main Street (Ward -8)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. 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 Main Street (Ward -8)?

Main Street (Ward -8) is covered by 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 details.

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

The guideline value is a crucial factor in property transactions in Peramanoor, as it determines the official value of the property for registration purposes. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

During the registration process, the higher of the guideline value or the sale price is considered for calculating the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Main Street (Ward -8)?

The current guideline value of Main Street (Ward -8) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Main Street (Ward -8)?

Main Street (Ward -8) is classified as Residential Special Type - V under the Chengleput Joint II SRO.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Main Street (Ward -8) is 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value.

Where can I find the Sub Registrar Office for Main Street (Ward -8)?

The Chengleput Joint II Sub Registrar Office covers Main Street (Ward -8) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details online.