Guideline Value

Corporate

Guideline Value for PALKALAI NAGAR 3RD LINK ROAD

₹4400/sq.ft.

The guideline value for Palkalai Nagar 3rd 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 3rd Link Road

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Palkalai Nagar 3rd Link Road guideline value

The current guideline value of Palkalai Nagar 3rd Link Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This road 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 3rd Link Road has changed

The guideline value for Palkalai Nagar 3rd Link Road has seen several revisions over the years. The earliest recorded value is from 2007, where it was Rs 1,200 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a 233% rise. However, it then 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, a 49% increase, and finally reached Rs 4,400 per sq.ft in 2024, reflecting a 10% increase from the previous year.

It is important to note that the register has no 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 carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, making the guideline value of Palkalai Nagar 3rd Link Road above the median.

Stamp duty and registration fee for property in Palkalai Nagar 3rd Link 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 at 7% would amount to 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 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 Palkalai Nagar 3rd Link Road?

The Sub Registrar Office that covers Palkalai Nagar 3rd 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 a crucial factor in the registration process when buying or selling property in Palavakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately, and the appropriate taxes are levied based on this value. This helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Palkalai Nagar 3rd Link Road?

The current guideline value of Palkalai Nagar 3rd 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, showing an overall increase of 267% over this period.

What is the registration office for Palkalai Nagar 3rd Link Road?

The registration office for Palkalai Nagar 3rd 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.

What are the stamp duty rates applicable?

The stamp duty for property transactions is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find more information on stamp duty and registration fees?

For detailed information on stamp duty and registration fees, you can use the stamp duty and registration fee calculator.