Guideline Value for PALANDIYAMMN KOIL CROSS STREET

Palandiyammn Koil Cross Street guideline value

The current guideline value of Palandiyammn Koil Cross Street is Rs 1,320 per sq.ft. This street is located in Pallikaranai village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Palandiyammn Koil Cross Street has changed

The guideline value for Palandiyammn Koil Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. However, the value saw a significant increase in the following revisions, with the 2023 revision at Rs 1,200 per sq.ft, and the latest 2024 revision increasing it to Rs 1,320 per sq.ft, marking a 10% rise from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. 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 the 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, placing the 2024 value of Palandiyammn Koil Cross Street below this median.

• Palandiamman 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 Palandiyammn Koil Cross 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 to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Palandiyammn Koil Cross Street?

The Sub Registrar Office that covers Palandiyammn Koil Cross 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 information.

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

The guideline value plays a crucial role in the registration process of property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers should be aware of these values to ensure compliance with local regulations and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Palandiyammn Koil Cross Street?

The current guideline value of Palandiyammn Koil Cross 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 has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024, reflecting a 10% increase. It was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012.

What is the land classification for Palandiyammn Koil Cross Street?

Palandiyammn Koil Cross Street is classified as Residential Class IV Type - II.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Palandiyammn Koil Cross 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.

How is stamp duty calculated for properties in Pallikaranai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.