Guideline Value for PALLA 4TH STREET EXTENSION

Palla 4th Street Extension guideline value

The current guideline value of Palla 4th Street Extension is Rs 3,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Palla 4th Street Extension has changed

The guideline value for Palla 4th Street Extension has seen several revisions over the years. The earliest revision recorded is from 2007, where the guideline value was Rs 550 per sq.ft. This value increased significantly to Rs 3,000 per sq.ft in 2012, marking a substantial rise of 445%. However, between 2012 and 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The most recent revision in 2024 has set the guideline value at Rs 3,200 per sq.ft, reflecting an increase of 59% from the 2017 figure. The overall change from 2007 to 2024 amounts to an increase of 482%.

It is important to note that the register has no figures for the years 2023, 2003, and 2002 for this street.

Guideline values in Perambur

In Perambur, there are a total of 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, making the current value of Rs 3,200 per sq.ft for Palla 4th Street Extension above the median.

• Palla 4th Street: Rs 3,200 per sq.ft (2024)
• Palla 5th Street: Rs 3,200 per sq.ft (2024)
• Palla 3rd Street: Rs 3,200 per sq.ft (2024)
• Palla 6th Street: Rs 3,200 per sq.ft (2024)
• Palla 2nd Street: Rs 3,200 per sq.ft (2024)
• Palla All Streets: Rs 3,200 per sq.ft (2024)

Stamp duty and registration fee for property in Palla 4th Street Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 3,200 per sq.ft, the total guideline value would be Rs 32,00,000. The stamp duty, charged at 7%, would amount to Rs 2,24,000, and the registration fee, charged at 2%, would be Rs 64,000. Together, these would total Rs 2,88,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Palla 4th Street Extension?

The Sub Registrar Office that covers Palla 4th Street Extension is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Perambur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the sale. Buyers and sellers must consider this value to ensure compliance with the legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Palla 4th Street Extension?

The current guideline value of Palla 4th Street Extension is Rs 3,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 550 per sq.ft in 2007 to Rs 3,200 per sq.ft in 2024, marking an overall increase of 482% over the years.

What is the land classification for Palla 4th Street Extension?

Palla 4th Street Extension is classified as Residential Class III Type - I.

Where can I find the registration office for Palla 4th Street Extension?

The registration office for Palla 4th Street Extension is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Palla 4th Street Extension?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 32,00,000, the stamp duty would be Rs 2,24,000 at a rate of 7%.