Guideline Value for PALAR NAGAR

Palar Nagar guideline value

The current guideline value of Palar Nagar, located in Athur B Block village under the Chengleput Joint II SRO, is Rs 800 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - I.

How the guideline value of Palar Nagar has changed

From the 2012 revision, the guideline value for Palar Nagar was Rs 800 per sq.ft. This remained unchanged until the 2017 revision, where it dropped to Rs 536 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, returning to Rs 800 per sq.ft. The 2024 revision has also set the value at Rs 800 per sq.ft, indicating no change from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the only revisions available are from 2012, 2017, 2023, and 2024.

Guideline values in Athur B Block

Athur B Block has 79 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 268 to Rs 1,525 per sq.ft. The median guideline value in this area is Rs 700 per sq.ft, placing Palar Nagar's 2024 figure above the median.

• Nisha Nagar: Rs 700 per sq.ft (2024)
• Priya Nagar: Rs 800 per sq.ft (2024)
• Priya Nagar Exten: Rs 800 per sq.ft (2024)
• Radha Nagar: Rs 500 per sq.ft (2024)
• Mullai Nagar: Rs 800 per sq.ft (2024)
• Mountain View: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Palar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty, charged at 7%, would be Rs 56,000, while the registration fee at 2% would be Rs 16,000. Together, these fees total Rs 72,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Palar Nagar?

The Chengleput Joint II Sub Registrar Office covers Palar Nagar. The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Athur B Block

The guideline value is a crucial factor in property transactions within Athur B Block. It determines the amount of stamp duty and registration fees that buyers must pay when registering a property. This ensures that the transaction is documented accurately and in accordance with government regulations.

When buying or selling property, the guideline value serves as a benchmark for the minimum value of the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Palar Nagar?

The current guideline value of Palar Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has fluctuated over the years, with the most recent change being from Rs 800 per sq.ft in 2023 to Rs 800 per sq.ft in 2024, showing no change. The value dropped from Rs 800 in 2012 to Rs 536 in 2017 and then rose back to Rs 800 by 2023.

What is the land classification for Palar Nagar?

Palar Nagar is classified as Mixed Special Type - I, which reflects the diverse usage of land in the area.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles registrations for properties in Palar Nagar.

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees are calculated based on the guideline value of the property. For example, for a property valued at Rs 8,00,000, the stamp duty at 7% would be Rs 56,000 and the registration fee at 2% would be Rs 16,000, totaling Rs 72,000.