Guideline Value for PALAYAM NAGAR

Palayam Nagar guideline value

The current guideline value of Palayam Nagar is Rs 154 per sq.ft, effective from 1 July 2024. This street is located in Eagattur village under the Manavalanagar SRO, classified as Residential Class II Type - I.

How the guideline value of Palayam Nagar has changed

The guideline value for Palayam Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 150 per sq.ft, which was then reduced to Rs 100 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 150 per sq.ft in 2023, marking a 50% rise from the previous figure. The most recent revision in 2024 has set the guideline value at Rs 154 per sq.ft, reflecting a 3% increase from the 2023 figure.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 3%.

Guideline values in Eagattur

In Eagattur, there are 31 streets under the Manavalanagar SRO that carry a guideline value for 2024, ranging from Rs 100 to Rs 330 per sq.ft. The median value for these streets is Rs 190 per sq.ft, placing Palayam Nagar's 2024 figure below this median.

• Palani Nagar: Rs 190 per sq.ft (2024)
• Om Sakthi Nagar: Rs 154 per sq.ft (2024)
• Nirmal Nagar: Rs 190 per sq.ft (2024)
• New Kamaraj Nagar: Rs 200 per sq.ft (2024)
• Meenakshi Nagar: Rs 200 per sq.ft (2024)
• Sree Kamatchi Nagar: Rs 170 per sq.ft (2024)

Stamp duty and registration fee for property in Palayam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 154 per sq.ft, the total guideline value amounts to Rs 1,54,000. The stamp duty, charged at 7%, would be Rs 10,780, and the registration fee at 2% would be Rs 3,080, leading to a combined total of Rs 13,860. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Palayam Nagar?

The Sub Registrar Office that covers Palayam Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Eagattur. It is used to determine the stamp duty and registration fees when a property is bought or sold. Buyers and sellers must refer to the current guideline value to ensure compliance with the legal requirements during the registration process.

When registering a property, the guideline value serves as a baseline for calculating taxes and fees. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Palayam Nagar?

The current guideline value of Palayam Nagar is Rs 154 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2012 to Rs 100 per sq.ft in 2017, then to Rs 150 per sq.ft in 2023, and finally to Rs 154 per sq.ft in 2024.

What is the land classification for Palayam Nagar?

Palayam Nagar is classified as Residential Class II Type - I under the Manavalanagar SRO.

What are the stamp duty and registration fees for properties in Palayam Nagar?

For a 1,000 sq.ft plot at the guideline value of Rs 154 per sq.ft, the total guideline value is Rs 1,54,000, with stamp duty at Rs 10,780 and registration fee at Rs 3,080, totaling Rs 13,860.

Which office handles registrations for Palayam Nagar?

The registrations for Palayam Nagar are handled by the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.