Guideline Value for PALKALAI NAGAR AVENUE 3RD CROSS STREET

Palkalai Nagar Avenue 3rd Cross Street guideline value

The current guideline value of Palkalai Nagar Avenue 3rd Cross 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 Avenue 3rd Cross Street has changed

The guideline value for Palkalai Nagar Avenue 3rd Cross Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 4,000 per sq.ft. This was followed by a decrease to Rs 2,680 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 4,000 per sq.ft, which was then increased to Rs 4,400 per sq.ft in 2024, marking a 10% rise from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from the 2012 figure to the current 2024 value, there has been a 10% increase. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

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 value among these streets is Rs 3,300 per sq.ft, placing Palkalai Nagar Avenue 3rd Cross Street above this median.

• Palkalai Nagar Avenue 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Palkalai Nagar Avenue 4th Cross Street: Rs 4,400 per sq.ft (2024)
• Palkalai Nagar Avenue 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Palkalai Nagar Avenue 5th Cross Street: Rs 4,400 per sq.ft (2024)
• Palkalai Nagar 9th Street: Rs 4,400 per sq.ft (2024)
• Palkalai Nagar Avenue 6th Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Palkalai Nagar Avenue 3rd Cross Street

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, 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 or the sale price.

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

Which Sub Registrar Office covers Palkalai Nagar Avenue 3rd Cross Street?

The Sub Registrar Office that covers Palkalai Nagar Avenue 3rd Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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 determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value as per the government records.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the state receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Palkalai Nagar Avenue 3rd Cross Street?

The current guideline value of Palkalai Nagar Avenue 3rd Cross 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 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then back to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for this street?

Palkalai Nagar Avenue 3rd Cross Street is classified as Residential Class I Type - II.

How do the guideline values of other streets compare?

Other streets in Palavakkam have guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. Palkalai Nagar Avenue 3rd Cross Street's guideline value is above this median.

Where can I find the Sub Registrar Office for this area?

The Neelankarai Sub Registrar Office, which covers Palkalai Nagar Avenue 3rd Cross Street, is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.