Guideline Value for PALANIYAPPA NAGAR 3RD CROSS STREET

Palaniyappa Nagar 3rd Cross Street guideline value

The current guideline value of Palaniyappa Nagar 3rd Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and falls under the Chennai South Joint I SRO with a land classification of Residential Class IV Type - I.

How the guideline value of Palaniyappa Nagar 3rd Cross Street has changed

The guideline value for Palaniyappa Nagar 3rd Cross Street has seen several revisions over the years. The earliest recorded figure available is from 2012, which was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017, marking a decline of 33%. In 2023, the value increased significantly to Rs 1,500 per sq.ft, and in the latest revision for 2024, it rose further to Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft, with a median value of Rs 1,660 per sq.ft. The guideline value of Palaniyappa Nagar 3rd Cross Street is slightly below this median.

• Palaniyappa Nagar 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Palaniyappa Nagar 4th Cross Street: Rs 1,650 per sq.ft (2024)
• Palaniyappa Nagar 1st Cross Street: Rs 1,650 per sq.ft (2024)
• Palaniyappa Nagar 5th Cross Street: Rs 1,650 per sq.ft (2024)
• Palaniyappa Nagar: Rs 1,650 per sq.ft (2024)
• Painthamil Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Palaniyappa Nagar 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000, bringing the total cost together to Rs 1,48,500. Please note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Palaniyappa Nagar 3rd Cross Street?

The Sub Registrar Office that covers Palaniyappa Nagar 3rd Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035, Chennai registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vanagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government standards.

When a property transaction occurs, the guideline value is used to calculate the stamp duty and registration fees. This means that buyers should be aware of the guideline value to understand the financial implications of their property transactions in the area.

Frequently asked questions

What is the current guideline value of Palaniyappa Nagar 3rd Cross Street?

The current guideline value of Palaniyappa Nagar 3rd Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 10%. There was a notable increase of 49% from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023.

What are the other streets in Vanagaram with the same guideline value?

Other streets in Vanagaram that share the same guideline value of Rs 1,650 per sq.ft in 2024 include Palaniyappa Nagar 1st, 2nd, 4th, and 5th Cross Streets, as well as Palaniyappa Nagar itself.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees would amount to Rs 1,48,500.

Which office handles the registration for Palaniyappa Nagar 3rd Cross Street?

The registration for Palaniyappa Nagar 3rd Cross Street is handled by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.