Guideline Value for PALAVAKKAM KUPPAM MUTHU MARIAMMAN KOIL 4TH CROSS STREET

Palavakkam Kuppam Muthu Mariamman Koil 4th Cross Street guideline value

The current guideline value for Palavakkam Kuppam Muthu Mariamman Koil 4th 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, and is classified as Residential Class V Type - II.

How the guideline value of Palavakkam Kuppam Muthu Mariamman Koil 4th Cross Street has changed

In the 2012 revision, the guideline value was set at Rs 750 per sq.ft. This figure increased to Rs 502 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value rose significantly to Rs 1,000 per sq.ft, reflecting an increase of 99%. The current guideline value remains unchanged from the 2023 revision.

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

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO with 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 guideline value for Palavakkam Kuppam Muthu Mariamman Koil 4th Cross Street is below this median.

• Palavakkam Kuppam Muthu Mariamman Koil 3rd 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 2nd 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 1st 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 4th 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, and the registration fee at 2% would be Rs 20,000, leading to a total of Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Palavakkam Kuppam Muthu Mariamman Koil 4th Cross Street?

The Palavakkam Kuppam Muthu Mariamman Koil 4th Cross Street falls under 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 information.

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

The guideline value plays a crucial role in property transactions in Palavakkam. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. This value ensures that the government receives the appropriate revenue from property transactions.

When registering a property, buyers must consider the guideline value as it can affect the overall cost of the transaction. It is essential 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 for Palavakkam Kuppam Muthu Mariamman Koil 4th Cross Street?

The current guideline value for Palavakkam Kuppam Muthu Mariamman Koil 4th 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 seen several changes, notably increasing from Rs 750 per sq.ft in 2012 to Rs 1,000 per sq.ft in 2023 and remaining the same in 2024. The value dropped to Rs 502 per sq.ft in 2017 before rising again.

What is the land classification for this street?

Palavakkam Kuppam Muthu Mariamman Koil 4th Cross Street is classified as Residential Class V Type - II.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Palavakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 10,00,000 would incur a stamp duty of Rs 70,000 at a rate of 7%.