Guideline Value

Corporate

Guideline Value for PALKALAI NAGAR 6TH STREET

₹4400/sq.ft.

The guideline value for Palkalai Nagar 6th 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 6th Street

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Palkalai Nagar 6th Street guideline value

The current guideline value of Palkalai Nagar 6th 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 6th Street has changed

Over the years, the guideline value of Palkalai Nagar 6th Street has seen significant changes. The earliest recorded value in 2002 was Rs 409 per sq.ft, which increased to Rs 457 per sq.ft in 2003. Following this, the value rose to Rs 1,200 per sq.ft in 2007, and then saw a substantial jump to Rs 4,000 per sq.ft in 2012. However, it decreased to Rs 2,680 per sq.ft in 2017. The value then increased again to Rs 4,000 per sq.ft in 2023, and finally reached Rs 4,400 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

The changes between these revisions illustrate the fluctuations in the guideline value. From 2017 to 2023, there was a notable increase of 49%. The jump from 2007 to 2012 was 233%, while the increase from 2003 to 2007 was 163%. Overall, from 2002 to 2024, the guideline value has increased by 976%.

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 for these streets is Rs 3,300 per sq.ft, placing Palkalai Nagar 6th Street's 2024 value above this median.

Stamp duty and registration fee for property in Palkalai Nagar 6th 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 fees together to 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 the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Palkalai Nagar 6th Street?

The Palkalai Nagar 6th Street falls under the jurisdiction of 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 property registration process in Palavakkam. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and complies with the local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during property dealings.

Frequently asked questions

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

The current guideline value of Palkalai Nagar 6th 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 from Rs 409 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 976% over the years.

What is the median guideline value for streets in Palavakkam?

The median guideline value for streets in Palavakkam is Rs 3,300 per sq.ft, with Palkalai Nagar 6th Street's value being above this median.

What are the stamp duty and registration fees for properties in Palkalai Nagar 6th Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 44,00,000, resulting in a stamp duty of Rs 3,08,000 and a registration fee of Rs 88,000, totaling Rs 3,96,000.

Where can I find the Sub Registrar Office for Palkalai Nagar 6th Street?

The Neelankarai Sub Registrar Office covers Palkalai Nagar 6th Street and is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.