Guideline Value for POPAYAR STREET (WARD -7)

Popayar Street (Ward -7) guideline value

The current guideline value of Popayar Street (Ward -7) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai 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 Popayar Street (Ward -7) has changed

The guideline value for Popayar Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was later reduced to Rs 804 per sq.ft in the 2017 revision. In 2023, the value increased to Rs 1,200 per sq.ft, and the most recent 2024 revision has set it at Rs 1,321 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 this area is Rs 1,100 per sq.ft, making the 2024 figure for Popayar Street above this median.

• Post Office Street (Ward -15): Rs 660 per sq.ft (2024)
• Poultry Farm Quarters (Ward -19): Rs 440 per sq.ft (2024)
• Poongundranar Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Poyyamozhi Pulan Street (Per): Rs 1,321 per sq.ft (2024)
• Poombavaiyar Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Ponniamman Koil Street Peramanur (Ward -15): Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Popayar Street (Ward -7)

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, totaling Rs 1,18,890. 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 detailed calculations.

Which Sub Registrar Office covers Popayar Street (Ward -7)?

The Sub Registrar Office covering Popayar Street (Ward -7) 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 further assistance.

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

The guideline value is an essential factor when buying or selling property in Ninna Karai. It serves as a basis for calculating stamp duty and registration fees, which are mandatory during the registration process. This ensures that the transaction is recorded accurately and in compliance with local regulations.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. Buyers and sellers must be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Popayar Street (Ward -7)?

The current guideline value of Popayar Street (Ward -7) 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 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 1,321 per sq.ft in 2024.

What is the land classification for Popayar Street (Ward -7)?

The land classification for Popayar Street (Ward -7) is Residential Special Type - V, indicating its designated use for residential purposes.

Where is the Sub Registrar Office for Popayar Street located?

The Chengleput Joint II Sub Registrar Office, which covers Popayar Street, is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Popayar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 13,21,000, the stamp duty at 7% would be Rs 92,470.