Guideline Value

Corporate

Guideline Value for PALKALAI NAGAR 7TH STREET

₹4400/sq.ft.

The guideline value for Palkalai Nagar 7th 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 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 Street

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Palkalai Nagar 7th Street guideline value

The current guideline value of Palkalai Nagar 7th 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 7th Street has changed

The guideline value for Palkalai Nagar 7th Street has undergone several revisions since 2007. The 2007 revision set the value at Rs 1,200 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 233%. However, the value decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The subsequent revision in 2023 brought the value back up to Rs 4,000 per sq.ft, and the latest revision in 2024 has set it at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register 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 a guideline value for 2024 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 7th Street above this median.

Stamp duty and registration fee for property in Palkalai Nagar 7th Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 44,00,000. The stamp duty at 7% amounts to Rs 3,08,000, and the registration fee at 2% is Rs 88,000, totaling Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Palkalai Nagar 7th Street?

The Sub Registrar Office that covers Palkalai Nagar 7th 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 applicable to the transaction.

When a property is registered, the higher value between the guideline value and the sale price 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 7th Street?

The current guideline value of Palkalai Nagar 7th 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 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, showing a significant increase of 267% overall.

What is the median guideline value in Palavakkam?

The median guideline value for streets in Palavakkam is Rs 3,300 per sq.ft, with Palkalai Nagar 7th Street's value being above this median.

What are the stamp duty and registration fees for property in Palkalai Nagar 7th Street?

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 amount to Rs 3,96,000.

Which office handles property registrations for Palkalai Nagar 7th Street?

The Neelankarai Sub Registrar Office handles property registrations for Palkalai Nagar 7th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.