Guideline Value for PALANIVEL NAGAR

Palanivel Nagar guideline value

The current guideline value of Palanivel Nagar is Rs 900 per sq.ft, effective from 1 July 2024. This locality is situated in Ponneri village, under the Ponneri Sub Registrar Office (SRO), and falls under the Residential Class I Type - I land classification.

How the guideline value of Palanivel Nagar has changed

The guideline value for Palanivel Nagar has seen significant changes over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 300 per sq.ft, which increased to Rs 900 per sq.ft in the 2024 revision, marking a change of +200%.

Prior to the 2023 revision, there were no recorded figures for Palanivel Nagar in the guideline value register. The substantial increase from Rs 300 to Rs 900 per sq.ft reflects the latest assessment in the 2024 revision.

Guideline values in Ponneri

Palanivel Nagar's guideline value of Rs 900 per sq.ft is above the median value of Rs 700 per sq.ft for the 120 streets in Ponneri under the Ponneri SRO, which range from Rs 201 to Rs 1,200 per sq.ft. Below are other streets in Ponneri and their respective 2024 guideline values:

• Panchetty Salai: Rs 700 per sq.ft (2024)
• Parthasarathy Kovil St: Rs 700 per sq.ft (2024)
• N.S.C.Bose Street: Rs 700 per sq.ft (2024)
• Pavender Street: Rs 700 per sq.ft (2024)
• Pazhaverkadu Pudhuvoyal Salai: Rs 900 per sq.ft (2024)
• Nippani Subha Rao St: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Palanivel Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 900 per sq.ft, the total guideline value amounts to Rs 9,00,000. The stamp duty is charged at 7%, resulting in Rs 63,000, while the registration fee at 2% amounts to Rs 18,000. Together, these fees total Rs 81,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further assistance, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Palanivel Nagar?

Palanivel Nagar falls under the jurisdiction of the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Ponneri. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory for property transactions. Buyers and sellers must refer to the guideline value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value helps determine the official value of the property for taxation purposes. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Palanivel Nagar?

The current guideline value of Palanivel Nagar is Rs 900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

In the 2023 revision, the guideline value was Rs 300 per sq.ft, which increased to Rs 900 per sq.ft in the 2024 revision, representing a change of +200%.

What is the land classification for Palanivel Nagar?

Palanivel Nagar is classified as Residential Class I Type - I, which indicates its suitability for residential development.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles the registration of properties in the area.

How is the stamp duty calculated for properties in Palanivel Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 900 per sq.ft, the stamp duty would be Rs 63,000 at the rate of 7%.