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 Peramanoor 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 undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged in the 2017 revision. However, in 2017, the value dropped to Rs 804 per sq.ft, before increasing to Rs 1,200 per sq.ft in 2023. The most recent revision in 2024 has raised the value to Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

Between the years, the changes in guideline values were significant. From 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a 10% increase. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 550 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, making the 2024 figure for Popayar Street above this median.

• Post Office Street (Ward -15): Rs 550 per sq.ft (2024)
• Poultry Farm Quarters (Ward -19): Rs 550 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 661 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 rate of Rs 1,320 per sq.ft, the 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 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 also use the stamp duty and registration fee calculator for more details.

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 more information.

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

The guideline value plays a crucial role in property transactions in Peramanoor. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

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

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 of Popayar Street (Ward -7)?

Popayar Street (Ward -7) is classified as Residential Special Type - V under the Chengleput Joint II SRO.

Where can I find 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, Chengalpattu registration zone.

How is the stamp duty calculated for property in Popayar Street (Ward -7)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 1,320 per sq.ft, the stamp duty would be calculated accordingly.