Guideline Value for Pavazhakattan Street, Ward No.1 Door No.1-55

Pavazhakattan Street, Ward No.1 Door No.1-55 guideline value

The current guideline value of Pavazhakattan Street, Ward No.1 Door No.1-55 is Rs 220 per sq.ft, effective from 1 July 2024. This street is located in Old Gummidipoondi village, under the Gummidipoondi SRO. The land classification for this area is Residential Class V Type - III.

How the guideline value of Pavazhakattan Street, Ward No.1 Door No.1-55 has changed

The guideline value for Pavazhakattan Street has undergone several revisions over the years. In 2002, the value was Rs 41 per sq.ft, which increased to Rs 47 per sq.ft in 2003, marking a 15% rise. The value then saw a significant increase to Rs 100 per sq.ft in 2007, reflecting a 113% change. By 2012, the guideline value was Rs 200 per sq.ft, which was a 100% increase from the previous revision.

In 2017, the value decreased to Rs 134 per sq.ft, representing a 33% drop. However, it rebounded to Rs 200 per sq.ft in 2023, and finally reached Rs 220 per sq.ft in 2024, showing a 10% increase from the previous year. Overall, from 2002 to 2024, there has been a substantial increase of 437% in the guideline value.

Guideline values in Old Gummidipoondi

In Old Gummidipoondi, there are 90 streets under the Gummidipoondi SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 1,210 per sq.ft. The median value for these streets is Rs 660 per sq.ft, indicating that the guideline value of Pavazhakattan Street is below this median.

• Pillayar Koil Street Ward No.10 Door No.1-24a: Rs 660 per sq.ft (2024)
• Old Tapal street or old TapalOffice Ward No.8 Door No.1-26b Tar Road: Rs 660 per sq.ft (2024)
• Prabhu Nagar: Rs 660 per sq.ft (2024)
• Prabu Nagar Ward No.9 Door No.1-60: Rs 660 per sq.ft (2024)
• New Vettu Colony: Rs 660 per sq.ft (2024)
• New Harijan Colony Ward No.5 Door No.1-38: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Pavazhakattan Street, Ward No.1 Door No.1-55

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value would be Rs 2,20,000. The stamp duty at 7% would be Rs 15,400, and the registration fee at 2% would be Rs 4,400, bringing the total fees together to Rs 19,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pavazhakattan Street, Ward No.1 Door No.1-55?

The Sub Registrar Office that covers Pavazhakattan Street is the Gummidipoondi Sub Registrar Office, located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone. For further assistance, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Old Gummidipoondi. It is the basis for calculating the stamp duty and registration fees that are payable at the time of registration.

When you buy or sell property, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable fees. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pavazhakattan Street?

The current guideline value of Pavazhakattan Street, Ward No.1 Door No.1-55 is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 41 per sq.ft in 2002 to Rs 220 per sq.ft in 2024, marking an overall increase of 437% over the years.

What is the median guideline value in Old Gummidipoondi?

The median guideline value for streets in Old Gummidipoondi is Rs 660 per sq.ft, while Pavazhakattan Street's value is below this median.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in Pavazhakattan Street is 7%, which is calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Pavazhakattan Street is located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone.