Guideline Value

Corporate

Guideline Value for PALKALAI NAGAR 5TH STREET

₹4400/sq.ft.

The guideline value for Palkalai Nagar 5th 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 5th Street

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Palkalai Nagar 5th Street guideline value

The current guideline value of Palkalai Nagar 5th 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 5th Street has changed

The guideline value for Palkalai Nagar 5th 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, marking a change of +12%. The value then rose significantly to Rs 1,200 per sq.ft in 2007, showing an increase of +163%. Following that, in 2012, it was recorded at Rs 4,000 per sq.ft, reflecting a substantial rise of +233% from the previous revision. However, this value decreased to Rs 2,680 per sq.ft in 2017, indicating a drop of -33%.

In the subsequent revisions, the guideline value increased to Rs 4,000 per sq.ft in 2023, which then rose to Rs 4,400 per sq.ft in 2024, representing a change of +10%. Overall, from 2002 to 2024, the guideline value has increased by +976%. There are no years in the register with figures omitted 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 value for these streets is Rs 3,300 per sq.ft, placing Palkalai Nagar 5th Street's 2024 figure above this median.

Stamp duty and registration fee for property in Palkalai Nagar 5th 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, while 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 duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Palkalai Nagar 5th Street?

The Sub Registrar Office that covers Palkalai Nagar 5th 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 when buying or selling property in Palavakkam, as it determines the minimum value at which property transactions can be registered. Buyers must ensure that the sale price is equal to or higher than the guideline value to avoid any legal complications during the registration process.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for all transactions. This ensures that the government receives the appropriate revenue from property sales, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Palkalai Nagar 5th Street?

The current guideline value of Palkalai Nagar 5th 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 the years.

What are the other streets in Palavakkam with the same guideline value?

Other streets in Palavakkam with the same guideline value of Rs 4,400 per sq.ft include Palkalai Nagar 5th Link Road, Palkalai Nagar 6th Link Road, Palkalai Nagar 4th Street, Palkalai Nagar 6th Street, Palkalai Nagar 4th Link Road, and Palkalai Nagar 7th Link Road.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied to the guideline value.

Where can I find the Sub Registrar Office for Palkalai Nagar 5th Street?

The Neelankarai Sub Registrar Office covers Palkalai Nagar 5th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.