Guideline Value for POPAYAR STREET (WARD -7)

Popayar Street (Ward -7) guideline value

The current guideline value of Popayar Street (Ward -7) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village under the Chengleput Joint II SRO, classified as 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. In 2012, the value was set at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value significantly increased by 49% to Rs 1,200 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,320 per sq.ft, reflecting a 10% rise from the previous year.

For the years 2002, 2003, and 2007, the register has no figure for Popayar Street. The overall change from 2012 to 2024 shows a slight increase of 10% in the guideline value.

Guideline values in Panangottur

In Panangottur, there are 419 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 value for these streets is Rs 990 per sq.ft, placing Popayar Street's 2024 figure above that median.

• Post Office Street (Ward -15): Rs 440 per sq.ft (2024)
• Poultry Farm Quarters (Ward -19): Rs 440 per sq.ft (2024)
• Poongundranar Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Poyyamozhi Pulan Street (Per): Rs 1,320 per sq.ft (2024)
• Poombavaiyar Street (Ward -7): Rs 1,320 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 1,320 per sq.ft, the total 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, making the total 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 detailed calculations.

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

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

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

When buying or selling property in Panangottur, the guideline value serves as a benchmark for calculating stamp duty and registration fees. This value is crucial during the registration process, as it determines the fees that need to be paid to the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it can impact the overall cost of the transaction. The guideline value is updated periodically, reflecting changes in the local real estate market.

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 1,320 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 for Popayar Street (Ward -7)?

Popayar Street (Ward -7) is classified as Residential Special Type - V according to the local land classification regulations.

What are the stamp duty and registration fees based on the guideline value?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400, and the registration fee would be Rs 26,400, totaling Rs 1,18,800 in fees.

Where is the Sub Registrar Office for Popayar Street (Ward -7)?

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