Guideline Value

Corporate

Guideline Value for PALKALAI NAGAR 4TH STREET

₹4400/sq.ft.

The guideline value for Palkalai Nagar 4th 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 4th Street

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Palkalai Nagar 4th Street guideline value

The current guideline value of Palkalai Nagar 4th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village and falls under the Neelankarai SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Palkalai Nagar 4th Street has changed

The guideline value for Palkalai Nagar 4th 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. The value then rose to Rs 1,200 per sq.ft in 2007, which was a substantial increase of 163%. Following this, in 2012, the guideline value was Rs 4,000 per sq.ft, reflecting a 233% increase from the previous revision. However, it decreased to Rs 2,680 per sq.ft in 2017, which was a decline of 33%.

In 2023, the guideline value returned to Rs 4,000 per sq.ft, and then it increased again to Rs 4,400 per sq.ft in 2024, representing a 10% rise. Overall, from 2002 to 2024, the guideline value has increased by 976%. There are no figures available for revisions in years not listed in the register.

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 guideline value in this area is Rs 3,300 per sq.ft, making the 2024 figure for Palkalai Nagar 4th Street above the median.

Stamp duty and registration fee for property in Palkalai Nagar 4th Street

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. Together, the total cost for these fees 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Palkalai Nagar 4th Street?

The Sub Registrar Office that covers Palkalai Nagar 4th Street 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 registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value for Palkalai Nagar 4th Street?

The current guideline value for Palkalai Nagar 4th 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, increasing from Rs 409 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, which is an overall increase of 976%.

What are the stamp duty rates for property transactions in Palkalai Nagar 4th Street?

The stamp duty rate for property transactions in Palkalai Nagar 4th Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Palkalai Nagar 4th Street located?

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

What is the median guideline value in Palavakkam?

The median guideline value in Palavakkam is Rs 3,300 per sq.ft, with Palkalai Nagar 4th Street's 2024 figure being above this median.