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Guideline Value

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Guideline Value for PALKALAI NAGAR AVENUE 9TH CROSS STREET

₹4400/sq.ft.

The guideline value for Palkalai Nagar Avenue 9th 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 9th Cross Street

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Palkalai Nagar Avenue 9th Cross Street guideline value

The current guideline value of Palkalai Nagar Avenue 9th 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 falls under the Residential Class I Type - II land classification.

How the guideline value of Palkalai Nagar Avenue 9th Cross Street has changed

In the 2012 revision, the guideline value was Rs 4,000 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 2,680 per sq.ft, marking a decrease of 33%. Following this, the value increased significantly to Rs 4,000 per sq.ft in 2012, and then rose to Rs 4,000 per sq.ft in 2023, before reaching the current value of Rs 4,400 per sq.ft in 2024, which is an increase of 10% from the previous year.

From 2017 to 2023, there was a substantial increase of 49%, bringing the value back up to Rs 4,000 per sq.ft. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%. The register has no figures for the years 2002, 2003, and 2007 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 guideline value in this area is Rs 3,300 per sq.ft, and Palkalai Nagar Avenue 9th Cross Street's 2024 figure is above this median.

Stamp duty and registration fee for property in Palkalai Nagar Avenue 9th Cross 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% would be Rs 3,08,000, and the registration fee at 2% would be 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 Avenue 9th Cross Street?

The Sub Registrar Office that covers Palkalai Nagar Avenue 9th 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 information.

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

The guideline value is a crucial factor during the registration process of property transactions in Palavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately and fairly.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Palkalai Nagar Avenue 9th Cross Street?

The current guideline value of Palkalai Nagar Avenue 9th 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 median guideline value in Palavakkam?

The median guideline value in Palavakkam is Rs 3,300 per sq.ft, with Palkalai Nagar Avenue 9th Cross Street's 2024 figure being above this median.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is charged at 2%. For a 1,000 sq.ft plot at the current rate, the total costs amount to Rs 3,96,000.

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

The Neelankarai Sub Registrar Office covers Palkalai Nagar Avenue 9th Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.