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 Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - III.

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

In the 2012 revision, the guideline value was Rs 1,600 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,072 per sq.ft. Following this, the value increased significantly to Rs 1,600 per sq.ft in the 2023 revision, marking a 49% rise from the 2017 figure. The most recent revision in 2024 set the guideline value at Rs 1,760 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for Pakthavasalam 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

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Pakthavasalam Street's 2024 figure above this median.

• Pajanai Koil Street (Ward -18): Rs 660 per sq.ft (2024)
• Palla Street Peramanur (Ward -15): Rs 440 per sq.ft (2024)
• Palla Street (Ward -2): Rs 660 per sq.ft (2024)
• Pallavan Street (Ward -5): Rs 1,321 per sq.ft (2024)
• Pambaikaal Street (Ward -15): Rs 660 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 rate of Rs 1,760 per sq.ft, the guideline value amounts to Rs 17,60,000. The stamp duty, charged at 7%, would be Rs 1,23,200, while the registration fee at 2% would be Rs 35,200. Together, these fees total Rs 1,58,400. Duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

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

The Chengleput Joint II Sub Registrar Office covers Pakthavasalam Street (Ward -8). The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Ninna Karai, as it determines the minimum price at which properties can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with local regulations. The guideline value serves as a benchmark for property transactions, helping to maintain transparency in the real estate market.

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 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?

The land classification for Pakthavasalam Street (Ward -8) is Residential Special Type - III.

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

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 at a rate of 7%.