Guideline Value for PALANI GARDEN

Palani Garden guideline value

The current guideline value of Palani Garden, located in Chemmancheri village under the Neelankarai SRO, is Rs 1,000 per sq.ft. This value is part of the Residential Class V Type - II land classification. The guideline value was revised effective from 1 July 2024.

How the guideline value of Palani Garden has changed

The guideline value for Palani Garden has undergone several revisions over the years. In 2012, the value was set at Rs 750 per sq.ft, which then increased to Rs 502 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 99%, bringing the value to Rs 1,000 per sq.ft. The 2023 to 2024 revision saw no change, maintaining the value at Rs 1,000 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 33%.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft, with a median of Rs 1,700 per sq.ft. Palani Garden's 2024 figure is below this median.

• Pallavaraja Garden: Rs 3,300 per sq.ft (2024)
• Panchayat Office Cross Street: Rs 2,800 per sq.ft (2024)
• Panchayat Office Road: Rs 2,800 per sq.ft (2024)
• Panchayat Union School Street & Road: Rs 2,800 per sq.ft (2024)
• Origin Phase-I: Rs 4,900 per sq.ft (2024)
• Parameswari Garden: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Palani Garden

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Palani Garden?

The Sub Registrar Office that covers Palani Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Chemmancheri. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps establish a fair basis for the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Palani Garden?

The current guideline value of Palani Garden is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023 and 2024. There were no figures for the years 2002, 2003, and 2007.

What are the guideline values of other streets in Chemmancheri?

Other streets in Chemmancheri have varying guideline values, ranging from Rs 1,000 to Rs 6,600 per sq.ft. For instance, Pallavaraja Garden is valued at Rs 3,300 per sq.ft, while Parameswari Garden is valued at Rs 1,100 per sq.ft.

What is the stamp duty for buying property in Palani Garden?

The stamp duty for buying property in Palani Garden is calculated at 7% of the guideline value. For a property valued at Rs 10,00,000, this would amount to Rs 70,000.

Where can I find the Sub Registrar Office for Palani Garden?

The Sub Registrar Office for Palani Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.