Guideline Value for PALLA 6TH STREET

Palla 6th Street guideline value

The current guideline value of Palla 6th 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 6th Street has changed

The guideline value for Palla 6th Street has seen several revisions over the years. In 2003, the value was Rs 419 per sq.ft, which increased to Rs 550 per sq.ft in 2007. The value then rose significantly to Rs 3,000 per sq.ft in 2012, but dropped to Rs 2,010 per sq.ft in 2017. The 2023 revision set the value at Rs 3,000 per sq.ft, followed by the current value of Rs 3,200 per sq.ft in 2024, marking a 7% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The revision from 2012 to 2017 saw a decrease of 33%. The jump from 2007 to 2012 was substantial, at 445%, while the increase from 2003 to 2007 was 31%. Overall, from 2003 to 2024, the guideline value has increased by 664%. The register has no figure for the year 2002 for this street.

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. The median value in this area is Rs 2,700 per sq.ft, placing Palla 6th Street's 2024 figure above that median.

• Palla 5th Street: Rs 3,200 per sq.ft (2024)
• Palla All Streets: Rs 3,200 per sq.ft (2024)
• Palla 4th Street Extension: Rs 3,200 per sq.ft (2024)
• Palla 4th Street: 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 6th 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 to Rs 2,88,000. It is important to note that 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 6th Street?

The Sub Registrar Office that covers Palla 6th 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 in the registration process of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is essential for calculating the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Palla 6th Street?

The current guideline value of Palla 6th 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 from Rs 419 per sq.ft in 2003 to Rs 3,200 per sq.ft in 2024, reflecting an overall increase of 664% over the years.

What is the land classification for Palla 6th Street?

Palla 6th Street is classified as Residential Class III Type - I under the Purasaivakkam SRO.

Where can I find the Sub Registrar Office for this street?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Palla 6th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 2,24,000.