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 Sattamangalam village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

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

The guideline value for Peialwar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, raising 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, reflecting a 10% rise from the previous year.

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

Guideline values in Sattamangalam

In Sattamangalam village, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 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 amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to 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 use our stamp duty and registration fee calculator for 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 details.

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

The guideline value plays a crucial role when buying or selling property in Sattamangalam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price of the property.

Additionally, the guideline value ensures that property transactions are conducted fairly and transparently, as it provides a standardized valuation for properties in the area. This helps in avoiding disputes during the registration process.

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, which means there has been a 49% increase from 2017 to 2023.

What is the land classification for Peialwar Street?

The land classification for Peialwar Street (Ward -5) is Residential Special Type - V, which indicates the type of development permitted in this area.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Sattamangalam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 13,20,000, the stamp duty would be 7% of that amount, along with a registration fee of 2%.