Guideline Value for PALANDIAMMAN KOIL STREET

Palandiamman Koil Street guideline value

The current guideline value of Palandiamman Koil Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Kovilambakkam village, under the Pallavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Palandiamman Koil Street has changed

Over the years, the guideline value of Palandiamman Koil Street has undergone several revisions. The 2007 revision set the value at Rs 1,783 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012, marking a 40% rise. However, from 2012 to 2017, the value decreased by 33% to Rs 1,675 per sq.ft. The following revisions saw significant increases, with the 2017 figure rising to Rs 2,500 per sq.ft in 2023, a 49% increase, and finally reaching Rs 2,750 per sq.ft in the 2024 revision, a 10% increase.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 54%.

Guideline values in Kovilambakkam

In Kovilambakkam, there are 61 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,610 per sq.ft. The median value is Rs 2,750 per sq.ft, which is the same as the current guideline value for Palandiamman Koil Street.

• Palika Company Street: Rs 2,750 per sq.ft (2024)
• Om Sakthi Nagar: Rs 2,970 per sq.ft (2024)
• Periya Kovilambakkam: Rs 2,750 per sq.ft (2024)
• Periya Kovilambakkam 1 to 6 Streets: Rs 2,750 per sq.ft (2024)
• Periyar Salai: Rs 2,750 per sq.ft (2024)
• Pillaiyar Koil 1 to 4 Streets: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Palandiamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total charges to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Palandiamman Koil Street?

The Sub Registrar Office that covers Palandiamman Koil Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fee and stamp duty are calculated based on the guideline value or the sale price, whichever is higher.

During the registration process, the guideline value ensures that the property is assessed at a fair value, which helps in maintaining transparency in property transactions. It is advisable for buyers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Palandiamman Koil Street?

The current guideline value of Palandiamman Koil Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,783 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 54% over the years.

What are the stamp duty and registration fees for property in Palandiamman Koil Street?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for Palandiamman Koil Street?

The Pallavaram Sub Registrar Office handles registrations for Palandiamman Koil Street, located at 7th Main Road, New Colony, Chromepet, Chennai.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value for property registration and is crucial for calculating stamp duty and registration fees. It helps ensure transparency and fairness in property transactions.