Guideline Value for POIGAIALWAR STREET (WARD -5)

Poigaialwar Street (Ward -5) guideline value

The current guideline value for Poigaialwar 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 Poigaialwar Street (Ward -5) has changed

Over the years, the guideline value for Poigaialwar Street has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following that, the value increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and then to Rs 1,320 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it rose by 49%, and overall, from 2012 to 2024, there has been a 10% increase in the guideline value per sq.ft.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets listed under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 1,100 per sq.ft, making the guideline value for Poigaialwar Street (Ward -5) above the 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, and the registration fee at 2% would be Rs 26,400, making the total cost for these fees 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 use the stamp duty and registration fee calculator for more details.

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, 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 Sattamangalam

The guideline value plays a crucial role in property transactions in Sattamangalam. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are based on the official rates set by the government.

During the registration process, the buyer must pay the stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value for 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 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 median guideline value in Sattamangalam?

The median guideline value in Sattamangalam is Rs 1,100 per sq.ft, with Poigaialwar Street's current value above this median.

What are the stamp duty and registration fees for property in Poigaialwar Street (Ward -5)?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 1,18,800 based on the current guideline value.

Where can I find the Sub Registrar Office for Poigaialwar Street (Ward -5)?

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