Guideline Value for Old Mahabalipuram Road

Old Mahabalipuram Road guideline value

The current guideline value of Old Mahabalipuram Road is Rs 8,800 per sq.ft, effective from 1 July 2024. This road is located in Palavakkam village, under the Neelankarai SRO, and is classified as Commercial Special Type - I.

How the guideline value of Old Mahabalipuram Road has changed

The guideline value for Old Mahabalipuram Road has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 8,000 per sq.ft, which then decreased to Rs 5,360 per sq.ft in the 2017 revision. The 2023 revision increased this value to Rs 8,000 per sq.ft, and the latest 2024 revision has further raised it to Rs 8,800 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%. However, there was a decrease of 33% from 2012 to 2017. Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a modest increase of 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

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, placing Old Mahabalipuram Road's 2024 figure above this median.

• N.S.Krishnan Street: Rs 1,700 per sq.ft (2024)
• Pachaiappan 10th Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 11th Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 12th Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 1st Street: Rs 2,200 per sq.ft (2024)
• Pachaiappan 2ndstreet: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Old Mahabalipuram Road

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Old Mahabalipuram Road?

The Sub Registrar Office covering Old Mahabalipuram Road 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 details.

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 serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the property registration process.

Frequently asked questions

What is the current guideline value of Old Mahabalipuram Road?

The current guideline value of Old Mahabalipuram Road is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 8,000 per sq.ft in 2012 to Rs 5,360 per sq.ft in 2017, then to Rs 8,000 per sq.ft in 2023, and finally to Rs 8,800 per sq.ft in 2024.

What is the land classification for Old Mahabalipuram Road?

Old Mahabalipuram Road is classified as Commercial Special Type - I.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties on Old Mahabalipuram Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 7,92,000 in duties and fees.