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 Panangottur 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

The guideline value for Paaventhar Street has undergone several revisions over the years. In 2012, the value was set at Rs 1,800 per sq.ft, which was later revised to Rs 1,206 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 1,800 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for Paaventhar Street in the revisions of 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a guideline value for 2024, ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 990 per sq.ft. The guideline value of Paaventhar Street (Ward -5) is above this median.

• Paavendar Street (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, charged at 7%, would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees 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 our 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, 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 Panangottur

The guideline value plays a crucial role during the registration of property transactions in Panangottur. It serves as a reference point for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is assessed to ensure that the appropriate taxes are collected. Buyers and sellers should be aware that the duty is charged based on the higher figure between the guideline value and the sale price, ensuring compliance with local regulations.

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 increased 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?

Paaventhar Street is classified as Residential Special Type - II, which indicates its designated use for residential purposes.

What are the stamp duty rates for property transactions in Paaventhar Street?

The stamp duty for property transactions in Paaventhar Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Paaventhar Street located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.