Guideline Value for PAVAZHAKKARA STREET

Pavazhakkara Street guideline value

The current guideline value of Pavazhakkara Street in Karunguzhi village, under the Madurandakam SRO, is Rs 401 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - I.

How the guideline value of Pavazhakkara Street has changed

The guideline value for Pavazhakkara Street has seen several revisions over the years. In 2007, the value was Rs 60 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2012. However, this figure remained the same until the next revision in 2017, where it rose to Rs 268 per sq.ft. The value then increased to Rs 400 per sq.ft in 2023, before reaching the current value of Rs 401 per sq.ft in 2024. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%. The 2012 to 2017 period saw a decrease of 33%, while the significant jump from 2007 to 2012 was 567%. Overall, from 2007 to 2024, the guideline value has increased by 568%.

Guideline values in Karunguzhi

In Karunguzhi village, there are 37 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 401 to Rs 1,000 per sq.ft. The median value is Rs 401 per sq.ft, which is the same as the current value for Pavazhakkara Street.

• Pattai Street: Rs 401 per sq.ft (2024)
• Parvatha Rajagula Street: Rs 401 per sq.ft (2024)
• PALLA PETTAI (a) KAIKKOLAR PETTAI: Rs 600 per sq.ft (2024)
• Ottha Vaadai Street: Rs 401 per sq.ft (2024)
• Old Post Office Street: Rs 401 per sq.ft (2024)
• North Pillayar Koil Street: Rs 401 per sq.ft (2024)

Stamp duty and registration fee for property in Pavazhakkara Street

For a 1,000 sq.ft plot at the current guideline value of Rs 401 per sq.ft, the total guideline value would be Rs 4,01,000. The stamp duty at 7% would amount to Rs 28,070, and the registration fee at 2% would be Rs 8,020, bringing the total charges to Rs 36,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pavazhakkara Street?

The Sub Registrar Office that covers Pavazhakkara Street is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Karunguzhi. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives due revenue from property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs in the transaction process. Buyers should be aware of the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Pavazhakkara Street?

The current guideline value of Pavazhakkara Street is Rs 401 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 401 per sq.ft in 2024, reflecting an overall increase of 568% over the years.

Is there a guideline value for the years 2002 and 2003?

The register has no figure for Pavazhakkara Street for the years 2002 and 2003.

What is the registration office for Pavazhakkara Street?

The registration office for Pavazhakkara Street is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated for property in Pavazhakkara Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 28,070.