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 Sattamangalam village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - III.

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

The guideline value for Paavanar Street has undergone several revisions over the years. In 2012, the value was set at Rs 1,600 per sq.ft, which remained unchanged until the next revision in 2017 when it decreased to Rs 1,072 per sq.ft. Following this, the value increased significantly to Rs 1,600 per sq.ft in 2023, and further rose to Rs 1,760 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but the value saw a substantial increase of 49% from 2017 to 2023. Overall, comparing the figures from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in the village is Rs 1,100 per sq.ft, placing Paavanar Street's 2024 figure 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)
• Osiya Nagar: Rs 990 per sq.ft (2024)
• Om Sakthi Street (Ward -15): Rs 440 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 would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, leading to a total of 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 calculate your own fees using the stamp duty and registration fee calculator.

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., in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Sattamangalam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that all transactions are fairly assessed according to the established values.

It is essential for buyers and sellers to be aware of the current guideline values as they directly impact the costs associated with property registration. Understanding these values helps in making informed decisions during property transactions.

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 increased to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,760 per sq.ft in 2024.

What is the land classification for Paavanar Street?

Paavanar Street is classified as Residential Special Type - III, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 and the registration fee would be Rs 35,200, totaling Rs 1,58,400. Duty is charged on the higher of the guideline value or the sale price.

Which office handles registrations for Paavanar Street?

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