Guideline Value

Corporate

Guideline Value for PALKALAI NAGAR 7TH LINK ROAD

₹4400/sq.ft.

The guideline value for Palkalai Nagar 7th 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 7th Link Road

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Palkalai Nagar 7th Link Road guideline value

The current guideline value of Palkalai Nagar 7th Link Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This road 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 7th Link Road has changed

The guideline value for Palkalai Nagar 7th Link Road has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 1,200 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a 233% rise. However, it then decreased to Rs 2,680 per sq.ft in 2017, a decline of 33%. The value saw a substantial increase to Rs 4,000 per sq.ft in 2023, followed by a further increase to Rs 4,400 per sq.ft in the 2024 revision, which is a 10% rise from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the 2024 revision, there has been a remarkable increase of 267%. It is important to note that the guideline register has no figures for the years 2002 and 2003 for this street.

Guideline values in Palavakkam

In Palavakkam, there are a total of 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, which means that the 2024 figure for Palkalai Nagar 7th Link Road is above that median.

Stamp duty and registration fee for property in Palkalai Nagar 7th 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. Therefore, 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.

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

Which Sub Registrar Office covers Palkalai Nagar 7th Link Road?

The Palkalai Nagar 7th Link Road 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 the registration of property transactions in Palavakkam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when buying or selling property in this area.

When a property is sold, the guideline value is compared to the actual sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Palkalai Nagar 7th Link Road?

The current guideline value of Palkalai Nagar 7th 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 significantly from Rs 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles property registrations for Palkalai Nagar 7th Link Road?

The Neelankarai Sub Registrar Office handles property registrations for Palkalai Nagar 7th Link Road, 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, making the guideline value for Palkalai Nagar 7th Link Road above this median.