Guideline Value

Corporate

Guideline Value for PALKALAI NAGAR AVENUE ROAD

₹4400/sq.ft.

The guideline value for Palkalai Nagar Avenue 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 Avenue Road

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Palkalai Nagar Avenue Road guideline value

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

The guideline value for Palkalai Nagar Avenue Road has seen significant changes over the years. In the 2007 revision, the value was Rs 1,200 per sq.ft, which increased to Rs 4,000 per sq.ft in the 2012 revision. However, it dropped to Rs 2,680 per sq.ft in 2017. The 2023 revision marked a rise to Rs 4,000 per sq.ft, followed by a further increase to Rs 4,400 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2012 to 2017 was a decrease of 33%, while the increase from 2007 to 2012 was a substantial 233%. Overall, from 2007 to 2024, the guideline value has increased by 267%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, placing Palkalai Nagar Avenue Road's 2024 figure above this median.

Stamp duty and registration fee for property in Palkalai Nagar Avenue 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, 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 Road?

The Sub Registrar Office that covers Palkalai Nagar Avenue Road 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 plays a crucial role during property transactions in Palavakkam. It is used to determine the stamp duty and registration fees that must be paid at the time of property registration.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are levied based on the established value of the property.

Frequently asked questions

What is the current guideline value of Palkalai Nagar Avenue Road?

The current guideline value of Palkalai Nagar Avenue 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 from Rs 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 267% since then.

What is the land classification for Palkalai Nagar Avenue Road?

Palkalai Nagar Avenue Road is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for Palkalai Nagar Avenue Road?

The Sub Registrar Office for Palkalai Nagar Avenue Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Palkalai Nagar Avenue Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied to the guideline value.