Guideline Value for PALANIYAPPA NAGAR 4TH CROSS STREET

Palaniyappa Nagar 4th Cross Street guideline value

The current guideline value of Palaniyappa Nagar 4th 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. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Palaniyappa Nagar 4th Cross Street has changed

The guideline value of Palaniyappa Nagar 4th Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision. The 2023 revision then increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,650 per sq.ft, marking a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

In terms of percentage changes, the 2023 to 2024 revision saw an increase of 10%, while the 2017 to 2023 revision experienced a significant rise of 49%. The 2012 to 2017 revision, however, saw a decrease of 33%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

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 4th Cross Street is below this median.

• Palaniyappa Nagar 3rd Cross Street: Rs 1,650 per sq.ft (2024)
• Palaniyappa Nagar 5th Cross Street: Rs 1,650 per sq.ft (2024)
• Palaniyappa Nagar 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Palaniyappa Nagar 1st Cross Street: Rs 1,650 per sq.ft (2024)
• Palaniappa 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 4th 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. The total cost for stamp duty and registration fees together would be Rs 1,48,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Palaniyappa Nagar 4th Cross Street?

The Sub Registrar Office that covers Palaniyappa Nagar 4th 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. You can find your SRO for more information.

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

When buying or selling property in Vanagaram, the guideline value plays a crucial role during the registration process. It serves as a benchmark for determining the minimum value at which the property can be registered, ensuring that the sale price is reflective of the market conditions as assessed by the authorities.

The guideline value is used to calculate stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can significantly affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Palaniyappa Nagar 4th Cross Street?

The current guideline value of Palaniyappa Nagar 4th 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, with various revisions in between, including a significant increase of 49% from 2017 to 2023.

What is the registration office for Palaniyappa Nagar 4th Cross Street?

The registration office for Palaniyappa Nagar 4th 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.

How is stamp duty calculated for property in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at a rate of 7%.

What is the land classification for Palaniyappa Nagar 4th Cross Street?

The land classification for Palaniyappa Nagar 4th Cross Street is Residential Class IV Type - I, indicating its designated use for residential purposes.