Guideline Value for PALAGAI THOTTI KUPPAM

Palagai Thotti Kuppam guideline value

The current guideline value of Palagai Thotti Kuppam is Rs 2,150 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Palagai Thotti Kuppam has changed

The guideline value for Palagai Thotti Kuppam has seen several revisions over the years. In 2002, the value was Rs 147 per sq.ft, which increased to Rs 173 per sq.ft in 2003, marking an increase of 18%. Following this, the value rose significantly to Rs 500 per sq.ft in 2007, reflecting a substantial increase of 189%. The value then jumped to Rs 2,000 per sq.ft in 2012, showing a remarkable increase of 300%. However, it dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. The value increased again to Rs 2,000 per sq.ft in 2023, and most recently, it has risen to Rs 2,150 per sq.ft in 2024, which is an increase of 8%.

Overall, from 2002 to 2024, the guideline value has increased by 1363%. There are no figures available for the revisions of years other than those specified for this street.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Palagai Thotti Kuppam is below this median.

• Palaya Kinaru Street: Rs 3,300 per sq.ft (2024)
• Othavadai Street: Rs 3,300 per sq.ft (2024)
• Pananthoppu Colony (Market Lane): Rs 2,800 per sq.ft (2024)
• Ondikuppam: Rs 2,150 per sq.ft (2024)
• North Railway Station Road: Rs 3,300 per sq.ft (2024)
• North Mada Street: Rs 3,700 per sq.ft (2024)

Stamp duty and registration fee for property in Palagai Thotti Kuppam

For a 1,000 sq.ft plot at the current guideline value of Rs 2,150 per sq.ft, the total guideline value would be Rs 21,50,000. The stamp duty at 7% would be Rs 1,50,500, and the registration fee at 2% would be Rs 43,000, bringing the total cost together to Rs 1,93,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Palagai Thotti Kuppam?

The Sub Registrar Office that covers Palagai Thotti Kuppam is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruvottiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are calculated accurately based on this value.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty and registration fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Palagai Thotti Kuppam?

The current guideline value of Palagai Thotti Kuppam is Rs 2,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 147 per sq.ft in 2002 to Rs 2,150 per sq.ft in 2024, reflecting an overall increase of 1363% over the years.

What is the land classification of Palagai Thotti Kuppam?

Palagai Thotti Kuppam is classified as Residential Class I Type - II.

Where can I find the registration office for Palagai Thotti Kuppam?

The registration office for Palagai Thotti Kuppam is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for properties in Palagai Thotti Kuppam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current rate would have a guideline value of Rs 21,50,000, with stamp duty calculated at 7% on this amount.