Guideline Value for PAAVENDAR NAGAR

Paavendar Nagar guideline value

The current guideline value of Paavendar Nagar, located in Ninna Karai village under the Chengleput Joint II SRO, is Rs 1,980 per sq.ft. This value is effective from 1 July 2024 and is classified as Residential Special Type - II.

How the guideline value of Paavendar Nagar has changed

The guideline value for Paavendar Nagar has undergone several revisions. The most recent revision is from 2024, where the value is set at Rs 1,980 per sq.ft, which represents an increase of 10% from the 2023 revision of Rs 1,800 per sq.ft. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 in the register for this street.

Prior to the 2023 revision, the guideline value for Paavendar Nagar was not documented in the register. The 2024 figure of Rs 1,980 per sq.ft is above the median value of Rs 1,100 per sq.ft for the 449 streets in Ninna Karai under the Chengleput Joint II SRO.

Guideline values in Ninna Karai

In Ninna Karai, the guideline values vary significantly, with rates ranging from Rs 440 to Rs 3,500 per sq.ft. The guideline value for Paavendar Nagar is notably above the median value of Rs 1,100 per sq.ft. Below are the guideline values for other streets in Ninna Karai:

• Paavendar Steet (Ward -6): Rs 1,980 per sq.ft (2024)
• Paavanar Street (Ward -4): Rs 1,760 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 1,321 per sq.ft (2024)
• Om Sakthi Street (Ward -15): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Paavendar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty is calculated at 7%, resulting in Rs 1,38,600, while the registration fee at 2% amounts to Rs 39,600. Therefore, the total cost for stamp duty and registration fees together is Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Paavendar Nagar?

The Sub Registrar Office that covers Paavendar Nagar 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 Ninna Karai

The guideline value is a crucial factor when buying or selling property in Ninna Karai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value helps ensure that the transaction is recorded accurately and fairly. This value is essential for maintaining transparency in real estate transactions within the region.

Frequently asked questions

What is the current guideline value of Paavendar Nagar?

The current guideline value of Paavendar Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2023 to Rs 1,980 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

What are the stamp duty and registration fees for properties in Paavendar Nagar?

For a property valued at Rs 19,80,000, the stamp duty is Rs 1,38,600, and the registration fee is Rs 39,600, totaling Rs 1,78,200. These fees are based on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers Paavendar Nagar?

The Chengleput Joint II Sub Registrar Office covers Paavendar Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification of Paavendar Nagar?

Paavendar Nagar is classified as Residential Special Type - II. This classification is important for understanding the zoning and usage regulations in the area.