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 Peramanoor village under the Chengleput Joint II SRO, 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. The 2012 revision set the value at Rs 1,800 per sq.ft, which remained unchanged until the 2017 revision when it decreased to Rs 1,206 per sq.ft. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49% to Rs 1,800 per sq.ft, and the most recent 2024 revision has further increased it to Rs 1,980 per sq.ft, marking a 10% rise.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Peramanoor

In Peramanoor village, there are 430 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 550 to Rs 2,200 per sq.ft. The median guideline value is Rs 1,100 per sq.ft, making Paaventhar Street's 2024 figure above that 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 661 per sq.ft (2024)
• Om Sakthi Street (Ward -15): Rs 550 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 rate of Rs 1,980 per sq.ft, the 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, totaling Rs 1,78,200. It is important to note that 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 information.

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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Peramanoor. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to assess the applicable duties. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

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 back 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?

Paaventhar Street is classified as Residential Special Type - II, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Paaventhar Street?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, which covers Paaventhar Street.

How is the stamp duty calculated for properties in Paaventhar Street?

Stamp duty for properties in Paaventhar Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Registration fees are also applicable at 2% of the guideline value.