Guideline Value

Corporate

Guideline Value for PALKALAI NAGAR 2ND STREET

₹4400/sq.ft.

The guideline value for Palkalai Nagar 2nd Street 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 2nd Street

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Palkalai Nagar 2nd Street guideline value

The current guideline value of Palkalai Nagar 2nd Street 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 Street has changed

The guideline value for Palkalai Nagar 2nd Street has seen significant changes over the years. In 2002, the guideline value was Rs 409 per sq.ft. This increased to Rs 457 per sq.ft in 2003, marking a 12% rise. By 2007, the value surged to Rs 1,200 per sq.ft, reflecting a 163% increase. The value continued to rise to Rs 4,000 per sq.ft in 2012, a remarkable 233% jump. However, it then decreased to Rs 2,680 per sq.ft in 2017, which was a decline of 33%. The value climbed again to Rs 4,000 per sq.ft in 2023, before reaching the current figure of Rs 4,400 per sq.ft in 2024, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 976%. There are no figures available for any revisions prior to 2002 or after 2024 for this street.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Palkalai Nagar 2nd Street's 2024 figure above this median.

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

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. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Palkalai Nagar 2nd Street?

The Palkalai Nagar 2nd Street falls under 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 property transactions in Palavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, ensuring compliance with local regulations.

During the registration process, the guideline value is compared with the sale price of the property. The higher of the two is used to calculate the stamp duty and registration fees, which are mandatory for completing the transaction. This ensures transparency and helps in maintaining a standard for property transactions in the area.

Frequently asked questions

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

The current guideline value of Palkalai Nagar 2nd Street 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 significantly 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 stamp duty rate for properties in Palkalai Nagar 2nd Street?

The stamp duty rate for properties in Palkalai Nagar 2nd Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

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 guideline value used in property transactions?

The guideline value is used to determine the minimum value for property registration and is essential for calculating stamp duty and registration fees during property transactions in Palavakkam.