Guideline Value for PEIALWAR STREET (WARD -5)

Peialwar Street (Ward -5) guideline value

The current guideline value of Peialwar Street (Ward -5) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Kattankollatur village under the Chengleput Joint II SRO, classified as Residential Special Type - V.

How the guideline value of Peialwar Street (Ward -5) has changed

Over the years, the guideline value for Peialwar Street has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then decreased to Rs 804 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, marking a 49% rise. The most recent revision in 2024 raised the value to Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kattankollatur

Kattankollatur village has a total of 453 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,612 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Peialwar Street's 2024 figure above this median.

• Peramanor Union Road (Per): Rs 990 per sq.ft (2024)
• Perarignar Anna Salai (Ward -6): Rs 2,200 per sq.ft (2024)
• Pavendar Salai (Ward -4): Rs 1,980 per sq.ft (2024)
• Periyalwar Street (Ward -5): Rs 1,320 per sq.ft (2024)
• Pattukottai Kalyana Sundaram Salai (Ward -8): Rs 1,760 per sq.ft (2024)
• Pattukottai Alagiri Street (Ward -8): Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Peialwar Street (Ward -5)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. 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 detailed calculations.

Which Sub Registrar Office covers Peialwar Street (Ward -5)?

The Sub Registrar Office that covers Peialwar Street (Ward -5) 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 information.

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

The guideline value plays a crucial role during property registration in Kattankollatur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

When a property is sold, the buyer and seller must ensure that the sale price meets or exceeds the guideline value. This helps in accurately assessing the financial obligations related to the transaction, including applicable taxes and fees.

Frequently asked questions

What is the current guideline value of Peialwar Street (Ward -5)?

The current guideline value of Peialwar Street (Ward -5) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024, reflecting a 10% increase. It was Rs 804 per sq.ft in 2017, indicating a significant rise of 49% to the 2023 figure.

What is the land classification for Peialwar Street?

Peialwar Street is classified as Residential Special Type - V under the Chengleput Joint II SRO.

Where can I find the Sub Registrar Office for Peialwar Street?

The Sub Registrar Office for Peialwar Street (Ward -5) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for property in Kattankollatur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,20,000, the stamp duty at 7% would be Rs 92,400.