Guideline Value for PALAKARA SECOND STREET

Palakara Second Street guideline value

The current guideline value of Palakara Second Street is Rs 750 per sq.ft, effective from 1 July 2024. This street is located in Walajabad village, under the jurisdiction of the Walajabad SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Palakara Second Street has changed

The guideline value for Palakara Second Street has seen several revisions over the years. In 2007, the value was Rs 60 per sq.ft, which increased significantly to Rs 750 per sq.ft in 2012, marking a remarkable increase of 1150%. However, from 2012 to 2017, the value decreased to Rs 502 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 750 per sq.ft in 2023, and it remained unchanged at Rs 750 per sq.ft in the 2024 revision, indicating no change between these two years.

It is important to note that the guideline value register has no figures for Palakara Second Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 1150%.

Guideline values in Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 2,000 per sq.ft. The median value is Rs 750 per sq.ft, which aligns with the guideline value of Palakara Second Street.

• Palayakara First Street: Rs 750 per sq.ft (2024)
• Palayakara Forth Street: Rs 750 per sq.ft (2024)
• Palayakara Third Street: Rs 750 per sq.ft (2024)
• Pallavaram Arumugam St: Rs 750 per sq.ft (2024)
• Pallikuda St: Rs 750 per sq.ft (2024)
• Paramashivam Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Palakara Second Street

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value would be Rs 7,50,000. The stamp duty at 7% would amount to Rs 52,500, and the registration fee at 2% would be Rs 15,000, bringing the total fees to Rs 67,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Palakara Second Street?

The Sub Registrar Office that covers Palakara Second Street is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Walajabad. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately.

When a property is registered, the guideline value is considered to ensure compliance with local regulations. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Palakara Second Street?

The current guideline value of Palakara Second Street is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most significant increase occurring from Rs 60 per sq.ft in 2007 to Rs 750 per sq.ft in 2012. There have been fluctuations, including a decrease to Rs 502 per sq.ft in 2017, but it has remained at Rs 750 per sq.ft since 2023.

What are the other streets in Walajabad with the same guideline value?

Several other streets in Walajabad also have a guideline value of Rs 750 per sq.ft in 2024, including Palayakara First Street, Palayakara Forth Street, Palayakara Third Street, Pallavaram Arumugam St, and Pallikuda St.

What is the stamp duty for property in Palakara Second Street?

The stamp duty for property in Palakara Second Street is calculated at 7% of the guideline value. For a property valued at Rs 7,50,000, the stamp duty would be Rs 52,500.

Where can I find the Sub Registrar Office for Palakara Second Street?

The Sub Registrar Office for Palakara Second Street is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.