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 Sattamangalam village under the Chengleput Joint II SRO, classified as 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 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. However, the value increased significantly to Rs 1,200 per sq.ft in the 2023 revision and further rose to Rs 1,320 per sq.ft in the 2024 revision.

The changes between the revisions are notable. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 10% from the 2012 revision to the 2024 revision.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 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 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 1,320 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 rate of Rs 1,320 per sq.ft, the 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, 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 use the stamp duty and registration fee calculator for more precise calculations.

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 Sattamangalam

The guideline value is a crucial factor during property transactions in Sattamangalam. It serves as the basis for calculating the stamp duty and registration fees that are payable when a property is bought or sold. This value is set by the government and is updated periodically to reflect changes in the market.

When registering a property, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions within 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 increased 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 of Periyalwar Street?

Periyalwar Street is classified as Residential Special Type - V. This classification affects the guideline value and potential uses of the property.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

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. The current rate is 7% for stamp duty and 2% for registration fees.