Guideline Value for PAMBAIKAL STREET (PER)

Pambaikal Street (Per) guideline value

The current guideline value of Pambaikal Street (Per) is Rs 660 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 Class I Type - III.

How the guideline value of Pambaikal Street (Per) has changed

The guideline value for Pambaikal Street (Per) has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision. After that, the value increased significantly to Rs 600 per sq.ft in 2023, and further rose to Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, while it decreased by 33% from 2012 to 2017. Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Pambaikal Street's 2024 figure below that median.

• Pambaikaal Street (Ward -15): 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)
• Pandian Street (Ward -5): Rs 1,321 per sq.ft (2024)
• Pandidurai Devar Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Pallavan Street (Ward -5): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Pambaikal Street (Per)

For a 1,000 sq.ft plot at the current guideline rate of Rs 660 per sq.ft, the guideline value amounts to Rs 6,60,000. The stamp duty, charged at 7%, would be Rs 46,200, while the registration fee at 2% would be Rs 13,200, bringing the total to Rs 59,400. 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 Pambaikal Street (Per)?

The Sub Registrar Office that covers Pambaikal Street (Per) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the 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. It is used to determine the stamp duty and registration fees payable when buying or selling property in the area. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations and to accurately calculate associated costs.

When registering a property, the guideline value serves as a benchmark for the transaction. It is essential to note that the duty is charged on the higher of the guideline value or the sale price, ensuring that the registration reflects the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Pambaikal Street (Per)?

The current guideline value of Pambaikal Street (Per) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Pambaikal Street (Per)?

Pambaikal Street (Per) is classified as Residential Class I Type - III, indicating its suitability for residential development.

Which registration office covers Pambaikal Street (Per)?

The Chengleput Joint II Sub Registrar Office covers Pambaikal Street (Per), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

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

Stamp duty for properties in Ninna Karai is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 at a rate of 7%.