Guideline Value

Corporate

Guideline Value for PALKALAI NAGAR 1ST MAIN ROAD

₹4400/sq.ft.

The guideline value for Palkalai Nagar 1st Main Road in Palavakkam village (Neelankarai SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Palavakkam

Village

Neelankarai

SRO

Residential Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1200 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹457 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹409 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Palkalai Nagar 1st Main Road

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Palkalai Nagar 1st Main Road guideline value

The current guideline value of Palkalai Nagar 1st Main Road is Rs 4,400 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 I Type - II.

How the guideline value of Palkalai Nagar 1st Main Road has changed

The guideline value for Palkalai Nagar 1st Main Road has undergone several revisions over the years. In 2002, the guideline value was Rs 409 per sq.ft. It increased to Rs 457 per sq.ft in 2003, followed by a significant rise to Rs 1,200 per sq.ft in 2007. The value then saw a substantial jump to Rs 4,000 per sq.ft in 2012, but decreased to Rs 2,680 per sq.ft in 2017. The value rose again to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2007 to 2012 was 233%, while the decrease from 2012 to 2017 was 33%. The increase from 2003 to 2007 was 163%, and from 2002 to 2003, it was 12%. Overall, from 2002 to 2024, the guideline value has increased by 976%. There are no figures available for revisions in years not mentioned.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Palkalai Nagar 1st Main Road is above this median.

Stamp duty and registration fee for property in Palkalai Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty, charged at 7%, would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000. Therefore, the total cost for these fees together would be Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Palkalai Nagar 1st Main Road?

The Sub Registrar Office that covers Palkalai Nagar 1st Main Road is 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 is a crucial factor in the registration process when buying or selling property in Palavakkam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives its due revenue from property transactions.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are recorded accurately and transparently in the official registry.

Frequently asked questions

What is the current guideline value of Palkalai Nagar 1st Main Road?

The current guideline value of Palkalai Nagar 1st Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 409 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 976% over the years.

What is the land classification for Palkalai Nagar 1st Main Road?

Palkalai Nagar 1st Main Road is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Neelankarai Sub Registrar Office?

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 property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 3,08,000.