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 Peramanoor 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 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 latest revision in 2024 has raised it further to Rs 1,980 per sq.ft. Notably, the register has no figures for this street for the years 2002, 2003, and 2007.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, followed by a 10% rise from 2023 to 2024. Overall, from 2012 to 2024, the value has seen a 10% increase. The fluctuations highlight the evolving nature of property values in this area.

Guideline values in Peramanoor

In Peramanoor village, there are 430 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Paaventhar Street (Ward -7) is above this median, indicating its relative positioning in the local market.

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

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, totaling 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 details.

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, within the Chengalpattu registration zone. You can find your SRO for more information.

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 minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers and sellers must be aware of this value to ensure compliance with local regulations and to avoid any potential issues during the registration process.

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 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 are the other streets in Peramanoor with guideline values?

Other streets in Peramanoor include Paaventhar Street (Ward -5) and Paavendar Steet (Ward -6), both valued at Rs 1,980 per sq.ft, as well as Paavanar Street (Ward -4) at Rs 1,760 per sq.ft, among others.

What fees are associated with buying property in Paaventhar Street (Ward -7)?

When purchasing property in Paaventhar Street, buyers should consider the stamp duty of 7% and the registration fee of 2% based on the guideline value or the sale price, whichever is higher.

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

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