Guideline Value for PALAYAKARA FORTH STREET

Palayakara Forth Street guideline value

The current guideline value of Palayakara Forth Street is Rs 750 per sq.ft. This street is located in Walajabad village, under the Walajabad SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Palayakara Forth Street has changed

The guideline value for Palayakara Forth Street has seen several revisions over the years. In 2007, the value was Rs 60 per sq.ft, which increased significantly to Rs 750 per sq.ft in 2012, marking a 1150% increase. However, from 2012 to 2017, the value decreased to Rs 502 per sq.ft, a decline of 33%. The value then rose to Rs 750 per sq.ft in 2023 and has remained the same in the 2024 revision, indicating no change from the previous year.

It is important to note that there are no figures available for this street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 1150%.

Guideline values in Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft, with a median value of Rs 750 per sq.ft. Palayakara Forth Street's 2024 figure aligns with this median.

• Palayakara First Street: Rs 750 per sq.ft (2024)
• Palayakara Third Srteet: Rs 750 per sq.ft (2024)
• Palakara Second Street: Rs 750 per sq.ft (2024)
• Pallavaram Arumugam St: Rs 750 per sq.ft (2024)
• Pallikuda St: Rs 750 per sq.ft (2024)
• Paramashivam Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Palayakara Forth Street

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value amounts to Rs 7,50,000. The stamp duty at 7% would be Rs 52,500, and the registration fee at 2% would be Rs 15,000, bringing the total fees to Rs 67,500. 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 Palayakara Forth Street?

The Sub Registrar Office that covers Palayakara Forth Street is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Walajabad. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, 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 all transactions are fairly assessed according to the established values in the area.

Frequently asked questions

What is the current guideline value of Palayakara Forth Street?

The current guideline value of Palayakara Forth Street is Rs 750 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 60 per sq.ft in 2007 to Rs 750 per sq.ft in 2012, then to Rs 502 per sq.ft in 2017, and back to Rs 750 per sq.ft in 2023 and 2024.

What is the land classification for Palayakara Forth Street?

Palayakara Forth Street is classified as Residential Class IV Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property on this street?

For a property valued at Rs 7,50,000, the stamp duty would be Rs 52,500, and the registration fee would be Rs 15,000, totaling Rs 67,500.

Where can I find more information about the Walajabad SRO?

You can find more information about the Walajabad SRO at the Walajabad Sub Registrar Office located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.