Guideline Value for P.K.S.GARDEN

P.K.S.Garden guideline value

The current guideline value of P.K.S.Garden is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is located in Palavakkam village under the Neelankarai SRO and is classified as Residential Class IV Type - II.

How the guideline value of P.K.S.Garden has changed

The guideline value for P.K.S.Garden has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 309 per sq.ft. It increased to Rs 345 per sq.ft in 2003, marking a change of +12%. The next significant jump occurred in 2007, where the value rose to Rs 700 per sq.ft, reflecting an increase of +103%. In 2012, the value was revised to Rs 1,500 per sq.ft, which was a substantial increase of +114% from the previous figure.

In 2017, the guideline value was set at Rs 1,005 per sq.ft, which represented a decrease of -33% from the 2012 figure. The value then increased to Rs 1,500 per sq.ft in 2023, showing a rise of +49%. The most recent revision in 2024 has set the guideline value at Rs 1,700 per sq.ft, marking an increase of +13% from the previous year.

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, with a median value of Rs 3,300 per sq.ft. The guideline value for P.K.S.Garden is below this median.

• Poonga 1st Street: Rs 1,700 per sq.ft (2024)
• Poonga 2nd Street: Rs 1,700 per sq.ft (2024)
• Poonga 3nd Street: Rs 1,700 per sq.ft (2024)
• Periyiar Salai: Rs 3,300 per sq.ft (2024)
• P.R.S. Nagar: Rs 3,900 per sq.ft (2024)
• Pushpa Avenue: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in P.K.S.Garden

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. It is important to note that the 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 details.

Which Sub Registrar Office covers P.K.S.Garden?

The Sub Registrar Office that covers P.K.S.Garden 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 during the registration of property transactions in Palavakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of P.K.S.Garden?

The current guideline value of P.K.S.Garden is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 309 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of +450% over the years.

What is the registration office for P.K.S.Garden?

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

How is stamp duty calculated for properties in P.K.S.Garden?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 17,00,000, the stamp duty at 7% would be Rs 1,19,000.

What are the guideline values of other streets in Palavakkam?

Other streets in Palavakkam have varying guideline values, with rates ranging from Rs 1,700 per sq.ft to Rs 3,900 per sq.ft in 2024.