Guideline Value for PALANI NAICKER STREET

Palani Naicker Street guideline value

The current guideline value of Palani Naicker Street is Rs 1,950 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Palani Naicker Street has changed

The guideline value for Palani Naicker Street has seen several revisions over the years. In 2003, the value was Rs 432 per sq.ft, which increased to Rs 900 per sq.ft in 2007. The 2012 revision saw the value rise to Rs 1,750 per sq.ft, but it then decreased to Rs 1,172 per sq.ft in 2017. The subsequent revision in 2023 brought the value up to Rs 1,750 per sq.ft, and the latest revision in 2024 set it at Rs 1,950 per sq.ft. The register has no figure for this street in 2002.

From 2017 to 2023, there was a significant increase of 49%, followed by an 11% rise from 2023 to 2024. The 2012 to 2017 period saw a decrease of 33%, while the 2007 to 2012 revision experienced a notable increase of 94%. The value jumped by 108% from 2003 to 2007. Overall, from 2003 to 2024, the guideline value has increased by 351%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,100 per sq.ft, placing Palani Naicker Street's 2024 value below that median.

• Palaiyakara Street: Rs 1,950 per sq.ft (2024)
• Padmavathi Street: Rs 1,950 per sq.ft (2024)
• Pachaiappan Street: Rs 1,950 per sq.ft (2024)
• Ottrai Vadai Street: Rs 1,950 per sq.ft (2024)
• Om Eswari Street: Rs 1,950 per sq.ft (2024)
• Ohm Eswaran Street: Rs 1,950 per sq.ft (2024)

Stamp duty and registration fee for property in Palani Naicker Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,950 per sq.ft, the total guideline value would be Rs 19,50,000. The stamp duty at 7% would amount to Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, bringing the total fees together to Rs 1,75,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Palani Naicker Street?

The Sub Registrar Office that covers Palani Naicker Street is the Chennai South Joint II 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 Ramapuram

The guideline value is a crucial factor during the registration of property transactions in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it impacts the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Palani Naicker Street?

The current guideline value of Palani Naicker Street is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 432 per sq.ft in 2003 to Rs 1,950 per sq.ft in 2024, reflecting an overall increase of 351% over the years.

What is the registration office for Palani Naicker Street?

The registration office for Palani Naicker Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

What are the stamp duty and registration fees for property in Palani Naicker Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,36,500 and the registration fee would be Rs 39,000, totaling Rs 1,75,500.

What other streets in Ramapuram have the same guideline value?

Other streets in Ramapuram that share the same guideline value of Rs 1,950 per sq.ft (2024) include Palaiyakara Street, Padmavathi Street, Pachaiappan Street, Ottrai Vadai Street, Om Eswari Street, and Ohm Eswaran Street.