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 Sattamangalam 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 (Ward -7) has undergone several revisions over the years. The 2012 revision recorded a value of Rs 1,800 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,206 per sq.ft. However, the value rebounded in the subsequent revisions, reaching Rs 1,800 per sq.ft in 2023 and then increasing to Rs 1,980 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 1,100 per sq.ft, placing Paaventhar Street's 2024 figure above this median.

• 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)
• Osiya Nagar: Rs 990 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 rate of Rs 1,980 per sq.ft, the guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to 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. For further calculations, 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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sattamangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government collects appropriate stamp duty and registration fees.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration reflects the true value of the property transaction, safeguarding the interests of both buyers and sellers.

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 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 (Ward -7)?

The land classification for Paaventhar Street (Ward -7) is Residential Special Type - II.

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

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

How is the stamp duty calculated for properties in Paaventhar Street (Ward -7)?

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