Guideline Value for PALANIYAPPA NAGAR

Palaniyappa Nagar guideline value

The current guideline value of Palaniyappa Nagar is Rs 870 per sq.ft, effective from 1 July 2024. This area is located in Thiruninravur-B village, under the Avadi SRO, and is classified as Residential Class II Type - II.

How the guideline value of Palaniyappa Nagar has changed

The guideline value for Palaniyappa Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 737 per sq.ft. This increased to Rs 800 per sq.ft in the 2023 revision, marking a 9% rise. The most recent revision in 2024 has further increased the guideline value to Rs 870 per sq.ft, which is another 9% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 18%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Thiruninravur-B

In Thiruninravur-B village, there are 374 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 1,760 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, placing Palaniyappa Nagar's 2024 figure above this median.

• Palaru Kinaru Street: Rs 440 per sq.ft (2024)
• Palavedu Road: Rs 770 per sq.ft (2024)
• Palla Karuneegar St: Rs 440 per sq.ft (2024)
• Palla Street: Rs 770 per sq.ft (2024)
• Pallikooda Street: Rs 440 per sq.ft (2024)
• Pachaiyamman Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Palaniyappa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 870 per sq.ft, the total guideline value amounts to Rs 8,70,000. The stamp duty at 7% would be Rs 60,900, while the registration fee at 2% would be Rs 17,400, bringing the total fees together to Rs 78,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Palaniyappa Nagar?

The Sub Registrar Office covering Palaniyappa Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Thiruninravur-B

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruninravur-B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Palaniyappa Nagar?

The current guideline value of Palaniyappa Nagar is Rs 870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 737 per sq.ft in 2017 to Rs 800 per sq.ft in 2023, and then to Rs 870 per sq.ft in 2024. This represents an overall increase of 18% from 2017 to 2024.

What is the median guideline value in Thiruninravur-B?

The median guideline value for streets in Thiruninravur-B is Rs 770 per sq.ft. Palaniyappa Nagar's 2024 figure is above this median.

What are the stamp duty rates for properties in Palaniyappa Nagar?

The stamp duty for properties in Palaniyappa Nagar is charged at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where is the Sub Registrar Office for Palaniyappa Nagar located?

The Avadi Sub Registrar Office, which covers Palaniyappa Nagar, is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.