Guideline Value for PAAVENTHAR STREET (WARD -7)

Paaventhar Street (Ward -7) guideline value

The current guideline value of Paaventhar Street (Ward -7) is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Paaventhar Street (Ward -7) has changed

The guideline value for Paaventhar Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 1,800 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 1,206 per sq.ft, marking a significant increase of 49% when compared to the 2023 figure. The 2012 revision also listed a value of Rs 1,800 per sq.ft, which was a decrease of 33% from the 2017 figure.

There are no recorded guideline values for Paaventhar Street in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ninna Karai

In Ninna Karai, there are 449 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, 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, making the 2024 figure for Paaventhar Street above that median.

• Paaventhar Street (Ward -5): Rs 1,980 per sq.ft (2024)
• Paavendar Steet (Ward -6): 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 -7)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that 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 -7)?

The Sub Registrar Office that covers Paaventhar Street (Ward -7) 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, as it determines the amount of stamp duty and registration fees payable during the transaction. Buyers and sellers should be aware that the guideline value serves as a reference point for the registration process, ensuring that the property is valued fairly according to the local regulations.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that both parties are protected and that the transaction adheres to the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Paaventhar Street (Ward -7)?

The current guideline value of Paaventhar Street (Ward -7) 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, a 10% increase. It was Rs 1,206 per sq.ft in 2017 and Rs 1,800 per sq.ft in 2012, indicating various fluctuations over the years.

What is the land classification for Paaventhar Street (Ward -7)?

The land classification for Paaventhar Street (Ward -7) is Residential Special Type - II, which is important for understanding the zoning regulations and potential uses of the property.

Where can I find the Sub Registrar Office for Paaventhar Street (Ward -7)?

The Sub Registrar Office for Paaventhar Street (Ward -7) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chengleput Joint II registration zone.

How is the stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 19,80,000, the stamp duty at 7% would be Rs 1,38,600.