Guideline Value for PERIYALWAR STREET (WARD -5)

Periyalwar Street (Ward -5) guideline value

The current guideline value of Periyalwar Street (Ward -5) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Panangottur 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 of Periyalwar Street has seen several revisions. The earliest recorded figure is from 2012, where the value was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017, and then an increase to Rs 1,200 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

In summary, the changes between revisions show a +49% increase from 2017 to 2023, a -33% decrease from 2012 to 2017, and an overall increase of +10% from 2012 to 2024. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value is Rs 990 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 1,320 per sq.ft (2024)
• Periyar Cross Street (Ward -7): Rs 1,320 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty, charged at 7%, would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, the total cost for these fees would be Rs 1,18,800. It is important to note that 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 details.

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

The Sub Registrar Office that covers Periyalwar Street (Ward -5) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 property transactions in Panangottur. It serves as a benchmark for determining the minimum price at which properties must be registered. When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for taxation purposes.

During the registration process, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This system helps maintain transparency and accountability in property transactions, making it an important aspect of real estate dealings in the region.

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 1,320 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 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 Periyalwar Street?

The land classification for Periyalwar Street (Ward -5) is Residential Special Type - V.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is stamp duty calculated for properties in Periyalwar Street?

Stamp duty for properties in Periyalwar Street is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2%.