Guideline Value

Corporate

Guideline Value for PALKALAI NAGAR 2ND LINK ROAD

₹4400/sq.ft.

The guideline value for Palkalai Nagar 2nd Link 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 N/A
From 1-4-2002 To 31-3-2003 N/A
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 2nd Link Road

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Palkalai Nagar 2nd Link Road guideline value

The current guideline value of Palkalai Nagar 2nd Link 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 2nd Link Road has changed

The guideline value for Palkalai Nagar 2nd Link Road has seen several revisions over the years. The earliest recorded revision is from 2007, with a value of Rs 1,200 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 233%. However, the value decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The value then rose sharply to Rs 4,000 per sq.ft in 2023, followed by the current value of Rs 4,400 per sq.ft in 2024, reflecting a 10% increase.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing Palkalai Nagar 2nd Link Road above that median.

Stamp duty and registration fee for property in Palkalai Nagar 2nd Link Road

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. Please note that duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Palkalai Nagar 2nd Link Road?

The Sub Registrar Office that covers Palkalai Nagar 2nd Link 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 an essential factor in the registration of property transactions in Palavakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value serves as a benchmark for the minimum value at which the property can be registered. This ensures that the registration process is transparent and that the appropriate fees are collected based on the established guideline values.

Frequently asked questions

What is the current guideline value of Palkalai Nagar 2nd Link Road?

The current guideline value of Palkalai Nagar 2nd Link 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 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting a total increase of 267% over the years.

What is the land classification for Palkalai Nagar 2nd Link Road?

Palkalai Nagar 2nd Link Road is classified as Residential Class I Type - II.

Where can I find the registration office for this area?

The registration office for Palkalai Nagar 2nd Link Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at 7%.