Guideline Value for PALANIAPPAN STREET

Palaniappan Street guideline value

The current guideline value of Palaniappan Street in Puliyur village, under the Kodambakkam SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - III land classification.

How the guideline value of Palaniappan Street has changed

The guideline value for Palaniappan Street has undergone several revisions over the years. In 2002, the guideline value was Rs 795 per sq.ft, which increased to Rs 873 per sq.ft in 2003, marking a 10% rise. The value saw a significant jump to Rs 1,050 per sq.ft in 2007, reflecting a 20% increase from the previous revision. By 2012, the value remained unchanged at Rs 3,500 per sq.ft, and this figure persisted through to the 2023 revision.

The most recent revision in 2024 set the guideline value at Rs 3,800 per sq.ft, representing a 9% increase from the previous year's figure of Rs 3,500 per sq.ft. It is important to note that there is no figure for this street in the 2017 revision.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value in the village is Rs 5,800 per sq.ft, which means Palaniappan Street's 2024 figure is below that median.

• Padmanabha Pillai Street: Rs 5,800 per sq.ft (2024)
• Padmanabha Nagar Main Road: Rs 5,000 per sq.ft (2024)
• Padmanabha Nagar: Rs 5,000 per sq.ft (2024)
• Palli Salai: Rs 5,300 per sq.ft (2024)
• Othavadai Street: Rs 4,400 per sq.ft (2024)
• Pandian Avenue: Rs 6,300 per sq.ft (2024)

Stamp duty and registration fee for property in Palaniappan 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 cost for these fees 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.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Palaniappan Street?

The Sub Registrar Office that covers Palaniappan Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Puliyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that all property transactions are recorded at a value that reflects the current market conditions as established by the guideline value register.

Frequently asked questions

What is the current guideline value of Palaniappan Street?

The current guideline value of Palaniappan 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 from Rs 795 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, with several revisions along the way, including a significant increase from Rs 1,050 per sq.ft in 2007 to Rs 3,500 per sq.ft in 2012.

What is the stamp duty for property in Palaniappan Street?

The stamp duty for property in Palaniappan Street is 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. This office handles registrations for properties in the Kodambakkam area.

What is the land classification for Palaniappan Street?

Palaniappan Street is classified under Residential Class IV Type - III, indicating its designation for residential use within the Kodambakkam SRO jurisdiction.