Guideline Value for PEIALWAR STREET (WARD -5)

Peialwar Street (Ward -5) guideline value

The current guideline value of Peialwar Street (Ward -5) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village, under the Chengleput Joint II SRO, and is 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 remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft. This was a decrease of 33%. The value increased significantly in the following revisions, reaching Rs 1,200 per sq.ft in 2023, and then rising to Rs 1,321 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%, reflecting a notable change in the guideline value. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. 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, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value 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 1,321 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 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty at 7% would amount to Rs 92,470, and the registration fee at 2% would be Rs 26,420. Together, the total cost for these fees would be Rs 1,18,890. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

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 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 applicable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value serves as the baseline for calculating the necessary fees. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the transaction.

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 1,321 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 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024.

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 Chengleput Joint II Sub Registrar Office covers Peialwar Street and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate has a guideline value of Rs 13,21,000, leading to specific fees based on that value.