Guideline Value for PALLA 4TH STREET

Palla 4th Street guideline value

The current guideline value of Palla 4th Street 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 has changed

The guideline value of Palla 4th Street has seen significant changes over the years. Starting from the 2003 revision, the value was Rs 419 per sq.ft, which increased to Rs 550 per sq.ft in 2007. The value then surged dramatically to Rs 3,000 per sq.ft in 2012, marking a 445% increase. However, this was followed by a decrease to Rs 2,010 per sq.ft in 2017, a drop of 33%. The most recent revision in 2024 has set the guideline value at Rs 3,200 per sq.ft, reflecting a 59% increase from 2017. Notably, the register has no figures for the years 2023 and 2002 for this street.

Overall, from 2003 to 2024, the guideline value has increased by 664%. This substantial rise indicates the evolving landscape of property values in the area, particularly in the context of the revisions noted.

Guideline values in Perambur

In Perambur, there are 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, with a median value of Rs 2,700 per sq.ft. The guideline value of Palla 4th Street is above this median, indicating its relative standing in the area.

• Palla 3rd Street: Rs 3,200 per sq.ft (2024)
• Palla 4th Street Extension: Rs 3,200 per sq.ft (2024)
• Palla 2nd Street: Rs 3,200 per sq.ft (2024)
• Palla 5th Street: Rs 3,200 per sq.ft (2024)
• Palla 1st Street: Rs 4,300 per sq.ft (2024)
• Palla 6th Street: Rs 3,200 per sq.ft (2024)

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

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 at 7% would amount to Rs 2,24,000, and the registration fee at 2% would be Rs 64,000, bringing the total charges to 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?

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

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

The guideline value is an essential factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When registering a property, the guideline value is used to ensure that the transaction is recorded at a fair value. This helps maintain transparency in property dealings and ensures compliance with local regulations.

Frequently asked questions

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

The current guideline value of Palla 4th Street 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 significantly, starting from Rs 419 per sq.ft in 2003 to Rs 3,200 per sq.ft in 2024, an overall increase of 664%.

What are the stamp duty and registration fees for property in Palla 4th Street?

For a property valued at Rs 32,00,000, the stamp duty would be Rs 2,24,000 and the registration fee would be Rs 64,000, totaling Rs 2,88,000.

Which office handles the registration for Palla 4th Street?

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

Are there other streets with the same guideline value in Perambur?

Yes, several other streets in Perambur, such as Palla 3rd Street, Palla 4th Street Extension, Palla 2nd Street, Palla 5th Street, and Palla 6th Street, also have a guideline value of Rs 3,200 per sq.ft as of 2024.