Guideline Value for PERIYALWAR STREET (WARD -5)

Periyalwar Street (Ward -5) guideline value

The current guideline value of Periyalwar Street (Ward -5) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai 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 Periyalwar Street (Ward -5) has changed

Over the years, the guideline value for Periyalwar Street has experienced several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 804 per sq.ft. The 2023 revision increased the value to Rs 1,200 per sq.ft, and the latest 2024 revision has raised it to Rs 1,321 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. Notably, the register does not have 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 value for these streets is Rs 1,100 per sq.ft, placing Periyalwar Street's 2024 figure above this median.

• Perarignar Anna Salai (Ward -6): Rs 2,200 per sq.ft (2024)
• Peramanor Union Road (Per): Rs 990 per sq.ft (2024)
• Peialwar Street (Ward -5): Rs 1,321 per sq.ft (2024)
• Periyar Cross Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Pavendar Salai (Ward -4): Rs 1,980 per sq.ft (2024)
• Pattukottai Kalyana Sundaram Salai (Ward -8): Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Periyalwar 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, bringing the total cost for these fees to Rs 1,18,890. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

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

The Sub Registrar Office covering Periyalwar 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, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value to ensure that they are complying with the legal requirements during the property transaction process. This value acts as a benchmark for the official documentation and financial obligations involved in property transfers.

Frequently asked questions

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

The current guideline value of Periyalwar 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 2023 to Rs 1,321 per sq.ft in 2024, which is a 10% increase. It was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012, showing various fluctuations over the years.

What is the land classification for Periyalwar Street?

The land classification for Periyalwar Street (Ward -5) is Residential Special Type - V, indicating its designated use for residential purposes.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles property registrations for the area.

How is the stamp duty calculated for property in Periyalwar Street?

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 13,21,000, the stamp duty would be Rs 92,470 at a rate of 7%.