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 Panangottur 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 of Peialwar Street has seen several revisions. In 2012, the guideline value was Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 804 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 1,200 per sq.ft. The latest revision in 2024 has further increased the value to Rs 1,320 per sq.ft, marking a 10% rise from the previous year.

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

Guideline values in Panangottur

In Panangottur village, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this area is Rs 990 per sq.ft, making the current guideline value of Peialwar Street (Ward -5) above that 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 rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% is Rs 92,400, and the registration fee at 2% is Rs 26,400, totaling Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise 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 Panangottur

The guideline value is a crucial factor in the registration process when buying or selling property in Panangottur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the officially recognized value of the property.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures that the transaction is documented accurately and that the appropriate taxes are paid to the government.

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 of Peialwar Street has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 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 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 stamp duty calculated for properties in Peialwar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a 1,000 sq.ft plot at Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000.