Guideline Value for BEACH ROAD @ PALAVAKKAM

Beach Road @ Palavakkam guideline value

The current guideline value of Beach Road @ Palavakkam is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village, under the Neelankarai SRO, and is classified as Residential Class I Type - II.

How the guideline value of Beach Road @ Palavakkam has changed

The guideline value for Beach Road @ Palavakkam has seen significant changes over the years. In 2002, the value was Rs 336 per sq.ft, which increased to Rs 376 per sq.ft in 2003, marking a 12% rise. Following this, the value rose dramatically to Rs 700 per sq.ft in 2007, reflecting an 86% increase. The value then surged to Rs 4,000 per sq.ft in 2012, a substantial 471% increase from the previous revision. However, it dropped to Rs 2,680 per sq.ft in 2017, indicating a decrease of 33%. The value saw a notable increase again to Rs 4,000 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 4,400 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1210%. There are no figures available for the revisions in years other than those listed above.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, positioning Beach Road @ Palavakkam above this median.

• Bharathidasan Street: Rs 3,900 per sq.ft (2024)
• Bharathi Nagar 1st Cross Street: Rs 2,800 per sq.ft (2024)
• Bharathi Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• Bharathi Nagar 2nd Cross Street: Rs 2,800 per sq.ft (2024)
• Bharathi Nagar 2nd Main Road: Rs 2,800 per sq.ft (2024)
• Bharathi Nagar Road (Street): Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Beach Road @ Palavakkam

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, together totaling Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Beach Road @ Palavakkam?

The Sub Registrar Office that covers Beach Road @ Palavakkam is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Palavakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It helps in establishing a fair transaction value and ensures that the registration process aligns with the legal requirements set by the state government.

Frequently asked questions

What is the current guideline value of Beach Road @ Palavakkam?

The current guideline value of Beach Road @ Palavakkam is Rs 4,400 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 336 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1210% over the years.

What are the stamp duty rates for property transactions in Beach Road @ Palavakkam?

The stamp duty for property transactions in Beach Road @ Palavakkam is charged at 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations for Beach Road @ Palavakkam?

The Neelankarai Sub Registrar Office handles property registrations for Beach Road @ Palavakkam, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value for streets in Palavakkam?

The median guideline value for streets in Palavakkam is Rs 3,300 per sq.ft, with Beach Road @ Palavakkam having a value above this median at Rs 4,400 per sq.ft.