Guideline Value for PAKTHAVASALAM STREET (WARD -8)

Pakthavasalam Street (Ward -8) guideline value

The current guideline value of Pakthavasalam Street (Ward -8) is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Kattankollatur village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - III.

How the guideline value of Pakthavasalam Street (Ward -8) has changed

Over the years, the guideline value for Pakthavasalam Street has seen several revisions. The 2012 revision set the value at Rs 1,600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,072 per sq.ft. Following this, the value increased significantly in the 2023 revision to Rs 1,600 per sq.ft, and then again in the 2024 revision to Rs 1,760 per sq.ft, marking a 10% increase from the previous year.

In terms of percentage changes, the value rose by 49% from 2017 to 2023, while there was a decrease of 33% from 2012 to 2017. 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 Kattankollatur

In Kattankollatur, there are 453 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 3,612 per sq.ft. The median value is Rs 1,100 per sq.ft, placing Pakthavasalam Street's 2024 figure above that median.

• Pajanai Koil Street (Ward -18): Rs 550 per sq.ft (2024)
• Palla Street Peramanur (Ward -15): Rs 440 per sq.ft (2024)
• Palla Street (Ward -2): Rs 440 per sq.ft (2024)
• Pallavan Street (Ward -5): Rs 1,320 per sq.ft (2024)
• Pambaikaal Street (Ward -15): Rs 440 per sq.ft (2024)
• Pambaikal Street (Per): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Pakthavasalam Street (Ward -8)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total to Rs 1,58,400. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pakthavasalam Street (Ward -8)?

The Sub Registrar Office that covers Pakthavasalam Street (Ward -8) 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 Kattankollatur

The guideline value is crucial during property registration in Kattankollatur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value acts as a benchmark for taxation purposes. 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 Pakthavasalam Street (Ward -8)?

The current guideline value of Pakthavasalam Street (Ward -8) is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then increased to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,760 per sq.ft in 2024.

What is the land classification for Pakthavasalam Street?

Pakthavasalam Street is classified as Residential Special Type - III, indicating its designated use for residential purposes.

What are the stamp duty rates for property transactions in Kattankollatur?

The stamp duty for property transactions in Kattankollatur is generally 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Pakthavasalam Street (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.