Guideline Value for PALAYA KINARU STREET

Palaya Kinaru Street guideline value

The current guideline value of Palaya Kinaru Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Palaya Kinaru Street has changed

The guideline value for Palaya Kinaru Street has seen significant changes over the years. In 2002, the guideline value was Rs 412 per sq.ft. This figure increased to Rs 484 per sq.ft in 2003, marking a 17% rise. By 2007, the value jumped to Rs 600 per sq.ft, an increase of 24%. The 2012 revision saw a substantial increase to Rs 3,000 per sq.ft, reflecting a 400% rise from the previous figure. However, in 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, before reaching the current rate of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 701%. The register has no figure for the years not mentioned in the revisions.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Palaya Kinaru Street.

• Palagai Thotti Kuppam: Rs 2,150 per sq.ft (2024)
• Pananthoppu Colony (Market Lane): Rs 2,800 per sq.ft (2024)
• Othavadai Street: Rs 3,300 per sq.ft (2024)
• Ondikuppam: Rs 2,150 per sq.ft (2024)
• Pattinathar Koil Street: Rs 3,300 per sq.ft (2024)
• North Railway Station Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Palaya Kinaru Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Palaya Kinaru Street?

The Sub Registrar Office that covers Palaya Kinaru Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Thiruvottiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value influences the stamp duty and registration fees that must be paid. Buyers should be aware that these costs are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Palaya Kinaru Street?

The current guideline value of Palaya Kinaru Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 412 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 701%.

What is the land classification for Palaya Kinaru Street?

Palaya Kinaru Street is classified as Residential Special Type - I.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000.