Guideline Value for PALAVAKKAM KUPPAM MUTHU MARIAMMAN KOIL 3RD CROSS STREET

Palavakkam Kuppam Muthu Mariamman Koil 3rd Cross Street guideline value

The current guideline value for Palavakkam Kuppam Muthu Mariamman Koil 3rd Cross Street is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village under the Neelankarai SRO, classified as Residential Class V Type - II.

How the guideline value of Palavakkam Kuppam Muthu Mariamman Koil 3rd Cross Street has changed

Over the years, the guideline value for Palavakkam Kuppam Muthu Mariamman Koil 3rd Cross Street has seen several revisions. The 2012 revision set the value at Rs 750 per sq.ft, which increased to Rs 502 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value surged to Rs 1,000 per sq.ft, reflecting an increase of 99%. The 2024 revision maintains this value at Rs 1,000 per sq.ft, showing no change from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, the guideline value has increased by 33% from 2012 to 2024.

Guideline values in Palavakkam

In Palavakkam, there are a total of 349 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, indicating that the 2024 figure for Palavakkam Kuppam Muthu Mariamman Koil 3rd Cross Street is below the median.

• Palavakkam Kuppam Muthu Mariamman Koil 2nd Cross Street: Rs 1,000 per sq.ft (2024)
• Palavakkam Kuppam Muthu Mariamman Koil 4th Cross Street: Rs 1,000 per sq.ft (2024)
• Palavakkam Kuppam Muthu Mariamman Koil 1st Cross Street: Rs 1,000 per sq.ft (2024)
• Palavakkam Kuppam Muthu Mariamman Koil 5th Cross Street: Rs 1,000 per sq.ft (2024)
• Palavakkam Kuppam Muthu Mariamman Koil 6th Cross Street: Rs 1,000 per sq.ft (2024)
• Palavakkam Kuppam Muthu Mariamman Koil Street: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Palavakkam Kuppam Muthu Mariamman Koil 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, while the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. Duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Palavakkam Kuppam Muthu Mariamman Koil 3rd Cross Street?

The Sub Registrar Office that covers Palavakkam Kuppam Muthu Mariamman Koil 3rd Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Palavakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When you register a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate 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 for Palavakkam Kuppam Muthu Mariamman Koil 3rd Cross Street?

The current guideline value for Palavakkam Kuppam Muthu Mariamman Koil 3rd Cross Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023 and 2024. The overall change from 2012 to 2024 is an increase of 33%.

What is the land classification for this street?

Palavakkam Kuppam Muthu Mariamman Koil 3rd Cross Street is classified as Residential Class V Type - II. This classification impacts the guideline value and property transactions in the area.

What are the stamp duty rates applicable?

The stamp duty for property transactions in this area is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. This office handles registrations for properties in Palavakkam.