Guideline Value for PAZAVERKADU SALAI

Pazaverkadu Salai guideline value

The current guideline value of Pazaverkadu Salai is Rs 300 per sq.ft, effective from 1 July 2024. This street is located in Chinnakavanam village under the Ponneri SRO, classified as Residential Class II Type - I.

How the guideline value of Pazaverkadu Salai has changed

The guideline value for Pazaverkadu Salai has seen several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which increased to Rs 134 per sq.ft in 2017. Following this, the value rose significantly to Rs 300 per sq.ft in both the 2023 and 2024 revisions. The register has no figure for this street in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 124%. Overall, from 2012 to 2024, the guideline value has risen by 50%. The consistency in the guideline value from 2023 to 2024 shows no change, maintaining the rate at Rs 300 per sq.ft.

Guideline values in Chinnakavanam

In Chinnakavanam, there are 28 streets under the Ponneri SRO with a 2024 guideline value ranging from Rs 300 to Rs 400 per sq.ft. The median value is Rs 300 per sq.ft, which is the same as the guideline value for Pazaverkadu Salai.

• Periya Thambi Mudali St: Rs 300 per sq.ft (2024)
• Perumbedu Salai: Rs 300 per sq.ft (2024)
• Ponneri - Pudhuvoyal Road: Rs 300 per sq.ft (2024)
• Nethaji Nagar: Rs 300 per sq.ft (2024)
• Rajeswari Nagar: Rs 300 per sq.ft (2024)
• Nallur Amman Kovil Street: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Pazaverkadu Salai

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty is charged at 7%, totaling Rs 21,000, and the registration fee is 2%, which is Rs 6,000. Therefore, the total cost for stamp duty and registration fees would be Rs 27,000. 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 Pazaverkadu Salai?

The Sub Registrar Office that covers Pazaverkadu Salai is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is crucial during the registration of property transactions in Chinnakavanam. It serves as a benchmark for calculating the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller approaches the registration office, the guideline value helps determine the legal value of the property. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected based on the established guideline value.

Frequently asked questions

What is the current guideline value of Pazaverkadu Salai?

The current guideline value of Pazaverkadu Salai is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent being Rs 300 per sq.ft in both 2023 and 2024. It was Rs 134 per sq.ft in 2017 and Rs 200 per sq.ft in 2012.

What is the land classification for Pazaverkadu Salai?

Pazaverkadu Salai is classified as Residential Class II Type - I. This classification affects the guideline value and the applicable regulations for property transactions.

Where is the Ponneri Sub Registrar Office located?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Pazaverkadu Salai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 at a rate of 7%.