Explore LandLens: verify, value, build-check, track & transact smarter

Guideline Value

Corporate

Guideline Value for PALKALAI NAGAR AVENUE 8TH CROSS STREET

₹4400/sq.ft.

The guideline value for Palkalai Nagar Avenue 8th Cross 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 N/A
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 Avenue 8th Cross Street

Need Complete Property Verification?

Get ownership details, EC records, FMB, zone checks, geo-insights & AI analysis - all in one place

Ownership Details
EC Records
FMB Sketch
Zone Checks
Geo-Insights
AI Analysis
Try VerifyMyLand Now ✨ Get comprehensive property verification in minutes

Palkalai Nagar Avenue 8th Cross Street guideline value

The current guideline value of Palkalai Nagar Avenue 8th Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street 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 Avenue 8th Cross Street has changed

The guideline value for Palkalai Nagar Avenue 8th Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 4,000 per sq.ft. In 2017, it decreased to Rs 2,680 per sq.ft, reflecting a decline of 33%. The value then increased significantly to Rs 4,000 per sq.ft in 2023, followed by a further increase to Rs 4,400 per sq.ft in 2024, marking a 10% rise from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Palavakkam

In Palavakkam, there are a total of 349 streets under the Neelankarai SRO that have 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, positioning Palkalai Nagar Avenue 8th Cross Street above this median.

Stamp duty and registration fee for property in Palkalai Nagar Avenue 8th 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 be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Palkalai Nagar Avenue 8th Cross Street?

The Sub Registrar Office that covers Palkalai Nagar Avenue 8th 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. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Palavakkam

The guideline value is an essential factor during property transactions in Palavakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being sold or bought. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is used to calculate the stamp duty, which is charged at a percentage of this value or the sale price, whichever is higher. This ensures that the state government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Palkalai Nagar Avenue 8th Cross Street?

The current guideline value of Palkalai Nagar Avenue 8th 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 seen several revisions, with the most recent increase being from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 10%.

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

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. This is based on the current guideline value.

Which Sub Registrar Office covers this area?

The Neelankarai Sub Registrar Office covers Palkalai Nagar Avenue 8th Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Palkalai Nagar Avenue 8th Cross Street?

The land classification for Palkalai Nagar Avenue 8th Cross Street is Residential Class I Type - II, indicating its suitability for residential purposes.