Guideline Value for PAAVENTHAR STREET (WARD -5)

Paaventhar Street (Ward -5) guideline value

The current guideline value of Paaventhar Street (Ward -5) is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Kattankollatur village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - II.

How the guideline value of Paaventhar Street (Ward -5) has changed

Over the years, the guideline value for Paaventhar Street has seen several revisions. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,800 per sq.ft, and the current 2024 revision has raised it further to Rs 1,980 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from the 2012 revision to the 2024 revision shows a 10% increase, reflecting the most recent upward adjustment in value.

Guideline values in Kattankollatur

Kattankollatur village has a total of 453 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 3,612 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing the current value of Paaventhar Street (Ward -5) above this median.

• Paavendar Steet (Ward -6): Rs 1,980 per sq.ft (2024)
• Paaventhar Street (Ward -7): Rs 1,980 per sq.ft (2024)
• Paavanar Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Ottakoothar Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Padmavathi Avenue (Ward -19): Rs 660 per sq.ft (2024)
• Om Sakthi Street (Ward -15): Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Paaventhar Street (Ward -5)

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 at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, making the total cost for these fees Rs 1,78,200. It's 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 Paaventhar Street (Ward -5)?

The Sub Registrar Office that covers Paaventhar Street (Ward -5) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process for property transactions in Kattankollatur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the financial implications of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher, making it essential to consider this value during negotiations.

Frequently asked questions

What is the current guideline value of Paaventhar Street (Ward -5)?

The current guideline value of Paaventhar Street (Ward -5) 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 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification for Paaventhar Street (Ward -5)?

Paaventhar Street (Ward -5) is classified as Residential Special Type - II, indicating its intended use for residential purposes.

What are the stamp duty and registration fees for properties in this area?

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

Where can I find the Sub Registrar Office for Paaventhar Street (Ward -5)?

The Chengleput Joint II Sub Registrar Office covers Paaventhar Street (Ward -5) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information about your SRO online.