Guideline Value for POIGAIALWAR STREET (WARD -5)

Poigaialwar Street (Ward -5) guideline value

The current guideline value of Poigaialwar Street (Ward -5) is Rs 1,320 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 Poigaialwar Street (Ward -5) has changed

The guideline value for Poigaialwar Street has seen several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft. This value decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and then further rose to Rs 1,320 per sq.ft in the 2024 revision, marking an increase of 10% from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur village, there are 419 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 guideline value in this area is Rs 990 per sq.ft, placing Poigaialwar Street's 2024 figure above that median.

• Ponmanachemmal Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Ponmudiar Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Pilliyar Koil Street (Ward -3): Rs 990 per sq.ft (2024)
• Pilliyar Koil Street (Ward -2): Rs 440 per sq.ft (2024)
• Ponniamman Koil Street Peramanur (Ward -15): Rs 440 per sq.ft (2024)
• Poombavaiyar Street (Ward -7): Rs 1,320 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, these fees would total Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

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 details.

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

The guideline value plays a crucial role in property transactions in Panangottur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price, as the registration fees and stamp duty are calculated based on the higher of the guideline value or the sale price.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in the real estate market. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Poigaialwar 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 undergone several revisions, increasing 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 Poigaialwar Street?

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

Which Sub Registrar Office covers this street?

The Chengleput Joint II Sub Registrar Office covers Poigaialwar Street (Ward -5), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 92,400 at 7%.