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 Ninna Karai 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 of 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. However, the value increased significantly to Rs 1,800 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,980 per sq.ft in the 2024 revision.

From 2012 to 2017, there was a decline of 33% in the guideline value. However, from 2017 to 2023, the value increased by 49%. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 10% in the guideline value.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing Paaventhar Street's 2024 figure 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)
• Paavendar Nagar: Rs 1,980 per sq.ft (2024)
• Paavanar Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Ottakoothar Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Padmavathi Avenue (Ward -19): Rs 660 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, bringing the total cost together to 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

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, visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Ninna Karai. 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 property transactions.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

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 of Paaventhar Street (Ward -5)?

Paaventhar Street (Ward -5) is classified as Residential Special Type - II under the Chengleput Joint II SRO.

How is stamp duty calculated for properties in Paaventhar Street (Ward -5)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,38,600 based on the current guideline value.

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

The Sub Registrar Office for Paaventhar Street (Ward -5) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.