Guideline Value for PALAVEDU MAIN ROAD

Palavedu Main Road guideline value

The current guideline value of Palavedu Main Road in Palavedu village, under the Avadi SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Palavedu Main Road has changed

The guideline value for Palavedu Main Road has seen several revisions over the years. In 2012, the value was set at Rs 400 per sq.ft. This figure then decreased to Rs 268 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 400 per sq.ft, a rise of 49%. The most recent revision in 2024 raised the value to Rs 440 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Palavedu

In Palavedu, there are 18 streets under the Avadi SRO that have a 2024 guideline value ranging from Rs 290 to Rs 1,100 per sq.ft. The median value among these streets is Rs 440 per sq.ft, which is equal to the guideline value of Palavedu Main Road.

• Om Saravana Nagar: Rs 440 per sq.ft (2024)
• Muthamizh Nagar: Rs 440 per sq.ft (2024)
• Karnan Nagar: Rs 440 per sq.ft (2024)
• Sri Durgai Amman Nagar: Rs 290 per sq.ft (2024)
• Kamaraj Nagar: Rs 440 per sq.ft (2024)
• Sri Vga Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Palavedu Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Palavedu Main Road?

The Sub Registrar Office that covers Palavedu Main Road 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 information.

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

The guideline value is a crucial factor when buying or selling property in Palavedu. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When registering a property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Palavedu Main Road?

The current guideline value of Palavedu Main Road is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification for Palavedu Main Road?

Palavedu Main Road is classified as Residential Class I Type - I.

What is the registration office for Palavedu Main Road?

The registration office that covers Palavedu Main Road is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the stamp duty calculated for properties in Palavedu?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 4,40,000, the stamp duty at 7% would be Rs 30,800.