Guideline Value

Corporate

Guideline Value for PALKALAI NAGAR/UNIVERSITY COLONY

₹4400/sq.ft.

The guideline value for Palkalai Nagar/university Colony 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/university Colony

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Palkalai Nagar/University Colony guideline value

The current guideline value of Palkalai Nagar/University Colony is Rs 4,400 per sq.ft, effective from 1 July 2024. This area 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/University Colony has changed

Over the years, the guideline value for Palkalai Nagar/University Colony has seen several revisions. The 2012 revision recorded a guideline value of Rs 4,000 per sq.ft, which decreased to Rs 2,680 per sq.ft in the 2017 revision. Following this, the value rose significantly to Rs 4,000 per sq.ft in the 2023 revision, and then to Rs 4,400 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 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, with guideline values 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/University Colony's 2024 figure above this median.

Stamp duty and registration fee for property in Palkalai Nagar/University Colony

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 to Rs 3,96,000. 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 details.

Which Sub Registrar Office covers Palkalai Nagar/University Colony?

The Neelankarai Sub Registrar Office covers Palkalai Nagar/University Colony, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is crucial during property transactions in Palavakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it directly impacts the stamp duty and registration fees applicable to the transaction.

When a property is sold, the registration office uses the guideline value to calculate the applicable fees, ensuring that the transaction is recorded accurately. This process helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Palkalai Nagar/University Colony?

The current guideline value of Palkalai Nagar/University Colony 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 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 of Palkalai Nagar/University Colony?

Palkalai Nagar/University Colony is classified as Residential Class I Type - II.

Where can I find more information about stamp duty and registration fees?

You can find more information and calculate your stamp duty and registration fees using our stamp duty and registration fee calculator.

Which office handles registrations for properties in Palkalai Nagar/University Colony?

The Neelankarai Sub Registrar Office handles registrations for properties in Palkalai Nagar/University Colony, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.