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 Panangottur 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

Over the years, the guideline value for Pakthavasalam Street has undergone several revisions. In the 2012 revision, the guideline value was Rs 1,600 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,072 per sq.ft. However, the value saw a significant increase in the subsequent revisions, reaching Rs 1,600 per sq.ft in 2023 and Rs 1,760 per sq.ft in the 2024 revision, marking a 10% increase from 2023 to 2024.

Comparatively, the guideline value increased by 49% from the 2017 revision to the 2023 revision. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 990 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 fees to Rs 1,58,400. 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 accurate calculations based on your specific property 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 Panangottur

The guideline value is a crucial factor in property transactions in Panangottur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that both parties are aware of the financial implications of the transaction.

It is essential for buyers and sellers to be informed about the current guideline value, as it can affect the overall cost of the property transaction. Understanding how the guideline value is applied can help in making informed decisions during the buying or selling process.

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 intended use for residential purposes.

What are the other streets in Panangottur and their guideline values?

Other streets in Panangottur have varying guideline values, with rates ranging from Rs 440 to Rs 2,200 per sq.ft. For example, Pajanai Koil Street has a guideline value of Rs 550 per sq.ft in 2024.

Where can I find the Chengleput Joint II Sub Registrar Office?

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