Guideline Value for PALLA 5TH STREET

Palla 5th Street guideline value

The current guideline value of Palla 5th Street is Rs 3,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Palla 5th Street has changed

The guideline value for Palla 5th Street has seen significant changes over the years. In 2003, the guideline value was Rs 419 per sq.ft, which increased to Rs 550 per sq.ft in 2007, marking a growth of 31%. The value then surged dramatically to Rs 3,000 per sq.ft in 2012, a remarkable increase of 445%. However, from 2012 to 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The most recent revision in 2024 has set the value at Rs 3,200 per sq.ft, reflecting a substantial increase of 59% from the previous figure in 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 risen by 664%, illustrating a significant upward trend over the two decades. The fluctuations in the guideline value highlight the dynamic nature of real estate pricing in the area.

Guideline values in Perambur

In Perambur village, 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. The median guideline value in this area is Rs 2,700 per sq.ft, placing Palla 5th Street's current value above this median.

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

Stamp duty and registration fee for property in Palla 5th 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, charged at 7%, would amount to Rs 2,24,000, while the registration fee at 2% would be Rs 64,000. Together, the total cost for these fees would be Rs 2,88,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Palla 5th Street?

The Sub Registrar Office that covers Palla 5th Street 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 plays a crucial role during the registration of property transactions in Perambur. It serves as the basis for calculating the stamp duty and registration fees that buyers and sellers must pay when transferring property ownership.

When a property is sold, the buyer must ensure that the transaction is registered at the relevant SRO, where the guideline value is used to determine the applicable fees. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Palla 5th Street?

The current guideline value of Palla 5th 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 from Rs 419 per sq.ft in 2003 to Rs 3,200 per sq.ft in 2024, representing an overall increase of 664% over the years.

What is the median guideline value in Perambur?

The median guideline value for streets in Perambur is Rs 2,700 per sq.ft, with Palla 5th Street's current value being above this median.

What are the stamp duty and registration fees for properties in Palla 5th Street?

For a property valued at the current guideline value of 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.

Where can I find the Sub Registrar Office for Palla 5th Street?

The Sub Registrar Office for Palla 5th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.