Guideline Value

Corporate

Guideline Value for PALKALAI NAGAR 3RD STREET

₹4400/sq.ft.

The guideline value for Palkalai Nagar 3rd 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 3rd Street

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Palkalai Nagar 3rd Street guideline value

The current guideline value of Palkalai Nagar 3rd Street in Palavakkam village, under the Neelankarai SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class I Type - II land classification.

How the guideline value of Palkalai Nagar 3rd Street has changed

The guideline value for Palkalai Nagar 3rd Street has seen several revisions over the years. In 2002, the value was Rs 409 per sq.ft, which increased to Rs 457 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,200 per sq.ft in 2007, marking an increase of 163%. The 2012 revision saw the value at Rs 4,000 per sq.ft, which was a 233% increase from the previous revision. However, in 2017, the value dropped to Rs 2,680 per sq.ft, reflecting a decrease of 33%. The subsequent revisions showed an increase, with the value reaching Rs 4,000 per sq.ft in 2023 and finally Rs 4,400 per sq.ft in 2024, indicating a 10% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 976%. There are no figures available for the revisions in the years not listed in the register.

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 is Rs 3,300 per sq.ft, placing Palkalai Nagar 3rd Street above this median.

Stamp duty and registration fee for property in Palkalai Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total 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, bringing the total to 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Palkalai Nagar 3rd Street?

The Palkalai Nagar 3rd 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 during property transactions in Palavakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When purchasing property, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs that buyers must account for in their overall budget. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

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

The current guideline value of Palkalai Nagar 3rd 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 from Rs 409 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 976% over this period.

What is the land classification of Palkalai Nagar 3rd Street?

Palkalai Nagar 3rd Street is classified as Residential Class I Type - II, indicating its designation for residential purposes.

What are the stamp duty and registration fees for this property?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

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.