Guideline Value for PALANI NAGAR

Palani Nagar guideline value

The current guideline value of Palani Nagar, located in Pinchivakkam village under the Perambakkam SRO, is Rs 600 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Palani Nagar has changed

According to the register, there are no figures for the years 2002, 2003, 2007, 2012, and 2017 for Palani Nagar. The guideline value was Rs 600 per sq.ft during the 2023 revision, which remained unchanged in the 2024 revision, also at Rs 600 per sq.ft. Thus, the change from 2023 to 2024 reflects a 0% increase.

Guideline values in Pinchivakkam

In Pinchivakkam, there are seven streets under the Perambakkam SRO that carry a 2024 guideline value, ranging from Rs 270 to Rs 600 per sq.ft. The median value for these streets is Rs 469 per sq.ft, placing Palani Nagar's 2024 figure above that median.

• Mount Sinai: Rs 469 per sq.ft (2024)
• Srinidhi Avenue: Rs 300 per sq.ft (2024)
• Ellammal Nagar: Rs 270 per sq.ft (2024)
• V.Nest: Rs 270 per sq.ft (2024)
• Srinivasa Avenue Part I: Rs 600 per sq.ft (2024)
• Srinivasa Avenue Part II: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Palani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. 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 details.

Which Sub Registrar Office covers Palani Nagar?

The Sub Registrar Office that covers Palani Nagar is the Perambakkam Sub Registrar Office, located at Jothi Ramalinga Nagar, Near Post Office, Perambakkam, 631402, Chennai registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the established guideline value or the sale price, whichever is higher.

When buying or selling property in Pinchivakkam, understanding the guideline value helps in making informed decisions regarding the financial aspects of the transaction. It is advisable to consult the latest figures to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Palani Nagar?

The current guideline value of Palani Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

There have been no figures for the years 2002, 2003, 2007, 2012, and 2017. The guideline value was Rs 600 per sq.ft in both 2023 and 2024, showing no change between these two years.

What are the guideline values of other streets in Pinchivakkam?

Other streets in Pinchivakkam have varying guideline values, ranging from Rs 270 to Rs 600 per sq.ft. The median value for these streets is Rs 469 per sq.ft.

How is stamp duty calculated in Palani Nagar?

Stamp duty in Palani Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. The registration fee is an additional 2% of the guideline value.

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

The Sub Registrar Office for Palani Nagar is located at Jothi Ramalinga Nagar, Near Post Office, Perambakkam, 631402, Chennai registration zone. You can find more information by visiting the relevant website.