Guideline Value for PAMBAIKAAL STREET (WARD -15)

Pambaikaal Street (Ward -15) guideline value

The current guideline value of Pambaikaal Street (Ward -15) is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village under the Chengleput Joint II SRO, and is classified as Residential Class II Type - II.

How the guideline value of Pambaikaal Street (Ward -15) has changed

The guideline value for Pambaikaal Street has undergone several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 400 per sq.ft in the 2023 revision, and then rose again to Rs 440 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. It is important to note that the register has no figure for this street for the years 2002, 2003, and 2007.

From 2017 to 2023, the value increased by 49%, while the overall change from 2012 to 2024 shows a 10% increase. The fluctuations in the guideline value reflect the adjustments made by the authorities based on various factors affecting the locality.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that have a guideline value for 2024, ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 990 per sq.ft. Pambaikaal Street's guideline value is below this median.

• Pambaikal Street (Per): Rs 660 per sq.ft (2024)
• Pammal K. Sampanthar Salai (Ward -8): Rs 1,760 per sq.ft (2024)
• Panankottur (Ward -15): Rs 440 per sq.ft (2024)
• Pallavan Street (Ward -5): Rs 1,320 per sq.ft (2024)
• Pandian Street (Ward -5): Rs 1,320 per sq.ft (2024)
• Pandidurai Devar Street (Ward -4): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Pambaikaal Street (Ward -15)

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total cost to Rs 39,600. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pambaikaal Street (Ward -15)?

Pambaikaal Street (Ward -15) falls under the jurisdiction of 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 the registration process when buying or selling property in Panangottur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property sales.

When a property is sold, the sale price or the guideline value, whichever is higher, will be used to calculate the stamp duty. This ensures that the registration process is transparent and that buyers are aware of the costs involved before finalizing their transactions.

Frequently asked questions

What is the current guideline value of Pambaikaal Street (Ward -15)?

The current guideline value of Pambaikaal Street (Ward -15) is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification of Pambaikaal Street?

Pambaikaal Street is classified as Residential Class II Type - II, indicating its suitability for residential development.

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, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Pambaikaal Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 at 7%.