Guideline Value for PALANI MUDALI STREET

Palani Mudali Street guideline value

The current guideline value of Palani Mudali Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and falls under the Residential Class II Type - II land classification.

How the guideline value of Palani Mudali Street has changed

The guideline value for Palani Mudali Street has seen several revisions over the years. Starting from Rs 461 per sq.ft in 2003, it increased to Rs 700 per sq.ft in 2007, marking a 52% rise. Following this, the value surged to Rs 3,500 per sq.ft in 2012, reflecting a significant increase of 400%. However, the subsequent revision in 2017 saw a decrease to Rs 2,345 per sq.ft, a drop of 33%. The most recent revision in 2024 brought the value back up to Rs 3,800 per sq.ft, representing a 62% increase from the 2017 figure.

It is important to note that there are no figures available for the years 2023 and 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 724%.

Guideline values in Perambur

Within Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Palani Mudali Street's 2024 guideline value of Rs 3,800 per sq.ft is above this median.

• Palani Andavar Koil Street Extension: Rs 4,300 per sq.ft (2024)
• Palani Andavar Koil Street: Rs 4,300 per sq.ft (2024)
• Palla 1st Street: Rs 4,300 per sq.ft (2024)
• Palla 2nd Street: Rs 3,200 per sq.ft (2024)
• Palla 3rd Street: Rs 3,200 per sq.ft (2024)
• Palla 4th Street: Rs 3,200 per sq.ft (2024)

Stamp duty and registration fee for property in Palani Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees together to Rs 3,42,000. 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 detailed calculations.

Which Sub Registrar Office covers Palani Mudali Street?

The Sub Registrar Office that covers Palani Mudali Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Perambur. It is used to determine the stamp duty and registration fees that are applicable when a property is bought or sold, ensuring that the transaction is recorded accurately in the official register.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property in the market.

Frequently asked questions

What is the current guideline value of Palani Mudali Street?

The current guideline value of Palani Mudali Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 461 per sq.ft in 2003 to Rs 3,800 per sq.ft in 2024, with various increases and decreases in between. Notably, there was a 62% increase from 2017 to 2024.

What are the other guideline values in Perambur?

In Perambur, the guideline values range from Rs 1,600 to Rs 7,100 per sq.ft, with a median of Rs 2,700 per sq.ft. Palani Mudali Street's value is above this median.

What is the stamp duty rate for properties in Palani Mudali Street?

The stamp duty rate for properties in Palani Mudali Street is 7% of the guideline value or the sale price, whichever is higher. This is applicable during the registration of the property.

Where is the Sub Registrar Office for Palani Mudali Street located?

The Sub Registrar Office for Palani Mudali Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. This office handles the registration of properties in the area.