Guideline Value for PALANDIAMMAN STREET

Palandiamman Street guideline value

The current guideline value of Palandiamman Street in Pallikaranai village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - II.

How the guideline value of Palandiamman Street has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure decreased to Rs 804 per sq.ft in the 2017 revision, reflecting a change of -33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, marking a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,320 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Palandiamman Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for the area is Rs 1,650 per sq.ft, making the 2024 figure for Palandiamman Street below this median.

• Palandiyammn Koil Cross Street: Rs 1,320 per sq.ft (2024)
• Pal Ambukkan Nagar: Rs 1,320 per sq.ft (2024)
• Padasalai Street: Rs 1,320 per sq.ft (2024)
• Paari Street Extension Shanthi Nagar: Rs 2,750 per sq.ft (2024)
• Pandian Nagar: Rs 1,320 per sq.ft (2024)
• Om Sakthi Nagar Extn.: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Palandiamman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Palandiamman Street?

The Sub Registrar Office that covers Palandiamman Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role during property transactions in Pallikaranai. It is used to determine the stamp duty and registration fees that need to be paid when a property is sold or purchased. Buyers should be aware that the guideline value may differ from the actual sale price, and the applicable duty is charged on the higher of the two figures.

When registering a property, it is essential to refer to the current guideline value to ensure compliance with local regulations. This value helps in assessing the financial obligations associated with the transaction, including taxes and fees.

Frequently asked questions

What is the current guideline value of Palandiamman Street?

The current guideline value of Palandiamman Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Palandiamman Street has changed significantly, from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Palandiamman Street?

Palandiamman Street is classified as Residential Class IV Type - II under the Chennai South Joint I SRO.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400, and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles registrations for Palandiamman Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Palandiamman Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.