Guideline Value for PAAVANAR STREET (WARD -4)

Paavanar Street (Ward -4) guideline value

The current guideline value of Paavanar Street (Ward -4) is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Paavanar Street (Ward -4) has changed

The guideline value for Paavanar Street has seen several revisions over the years. In the 2012 revision, the guideline value was Rs 1,600 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,072 per sq.ft, marking a -33% change. The value then increased significantly to Rs 1,600 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,760 per sq.ft in the 2024 revision, which is a +10% change.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by +10%. Notably, there are no figures recorded for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 990 per sq.ft, placing Paavanar Street's 2024 value above this median.

• Paavendar Steet (Ward -6): Rs 1,980 per sq.ft (2024)
• Paaventhar Street (Ward -5): Rs 1,980 per sq.ft (2024)
• Paaventhar Street (Ward -7): Rs 1,980 per sq.ft (2024)
• Ottakoothar Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Om Sakthi Street (Ward -15): Rs 440 per sq.ft (2024)
• Om Sakthi Street (Per): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Paavanar Street (Ward -4)

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, charged at 7%, would be Rs 1,23,200, while the registration fee at 2% would be Rs 35,200. Together, these charges amount 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Paavanar Street (Ward -4)?

The Sub Registrar Office that covers Paavanar Street (Ward -4) 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 Panangottur

The guideline value is a critical factor in the registration process of property transactions in Panangottur. 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 benchmark for the transaction price. If the sale price is lower than the guideline value, the duty is calculated on the guideline value to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Paavanar Street (Ward -4)?

The current guideline value of Paavanar Street (Ward -4) is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then back to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,760 per sq.ft in 2024. There are no figures for the years 2002, 2003, and 2007.

What is the land classification for Paavanar Street?

The land classification for Paavanar Street (Ward -4) is Residential Special Type - III.

What is the registration office for Paavanar Street?

The registration office for Paavanar Street (Ward -4) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 17,60,000, the stamp duty at 7% would be Rs 1,23,200.