Guideline Value

Corporate

Guideline Value for PALKALAI NAGAR 6TH LINK ROAD

₹4400/sq.ft.

The guideline value for Palkalai Nagar 6th 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 6th Link Road

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Palkalai Nagar 6th Link Road guideline value

The current guideline value of Palkalai Nagar 6th Link Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village under the Neelankarai SRO, and it falls under the Residential Class I Type - II land classification.

How the guideline value of Palkalai Nagar 6th Link Road has changed

The guideline value for Palkalai Nagar 6th Link Road has undergone several revisions over the years. In 2007, the guideline value was Rs 1,200 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, it then decreased to Rs 2,680 per sq.ft in 2017. From 2017 to 2023, there was a substantial increase of 49%, bringing the value to Rs 4,000 per sq.ft. The most recent revision in 2024 has raised the guideline value to Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

There are no figures available 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, 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, making the 2024 figure for Palkalai Nagar 6th Link Road above this median.

Stamp duty and registration fee for property in Palkalai Nagar 6th 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, making the total cost for these fees 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Palkalai Nagar 6th Link Road?

The Palkalai Nagar 6th Link Road is covered by 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 plays a crucial role 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 with the sale price, and the higher of the two values is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Palkalai Nagar 6th Link Road?

The current guideline value of Palkalai Nagar 6th 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, marking an overall increase of 267% over the years.

What are the stamp duty and registration fees for properties here?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,96,000.

Which office handles registrations for Palkalai Nagar 6th Link Road?

The Neelankarai Sub Registrar Office handles registrations for Palkalai Nagar 6th Link Road, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees payable during property transactions. It is compared with the sale price to ensure the correct amount is charged.