Guideline Value for POIGAIALWAR STREET (WARD -5)

Poigaialwar Street (Ward -5) guideline value

The current guideline value of Poigaialwar Street (Ward -5) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village, under the Chengleput Joint II SRO, with a land classification of Residential Special Type - V.

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

The guideline value for Poigaialwar Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017. The value then increased significantly to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024, reflecting a 10% increase from the previous year and a 49% increase from 2017.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%, indicating a notable change over the years.

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 guideline value in the village is Rs 1,100 per sq.ft, placing Poigaialwar Street's 2024 figure above this median.

• Ponmanachemmal Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Ponmudiar Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Pilliyar Koil Street (Ward -3): Rs 990 per sq.ft (2024)
• Pilliyar Koil Street (Ward -2): Rs 660 per sq.ft (2024)
• Ponniamman Koil Street Peramanur (Ward -15): Rs 440 per sq.ft (2024)
• Poombavaiyar Street (Ward -7): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Poigaialwar 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 amounts to Rs 13,21,000. The stamp duty at 7% would be Rs 92,470, and the registration fee at 2% would be Rs 26,420, leading to a total of Rs 1,18,890 for both fees. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Poigaialwar 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 Ninna Karai

The guideline value plays a crucial role in the registration process when buying or selling property in Ninna Karai. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction.

When a property is registered, the stamp duty is calculated 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 Poigaialwar Street?

The current guideline value of Poigaialwar 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 several times, starting from Rs 1,200 per sq.ft in 2012, decreasing to Rs 804 per sq.ft in 2017, then rising to Rs 1,200 per sq.ft in 2023, and finally reaching Rs 1,321 per sq.ft in 2024.

What is the land classification for Poigaialwar Street?

Poigaialwar Street is classified as Residential Special Type - V, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property transactions?

Stamp duty is calculated at 7% of the guideline value, while the registration fee is charged at 2%. These fees are based on the higher of the guideline value or the sale price of the property.

Where can I find the Sub Registrar Office for Poigaialwar Street?

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