Guideline Value for PALLA STREET (WARD -2)

Palla Street (Ward -2) guideline value

The current guideline value of Palla Street (Ward -2) is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Kattankollatur village under the Chengleput Joint II SRO and is classified as Residential Class II Type - II.

How the guideline value of Palla Street (Ward -2) has changed

Over the years, the guideline value of Palla Street has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 268 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 400 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the value to Rs 440 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the guideline value register has no figures for the years 2002, 2003, and 2007 for Palla Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kattankollatur

Kattankollatur village has a total of 453 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,612 per sq.ft. The median guideline value for the village is Rs 1,100 per sq.ft, positioning Palla Street's 2024 figure below this median.

• Palla Street Peramanur (Ward -15): Rs 440 per sq.ft (2024)
• Pallavan Street (Ward -5): Rs 1,320 per sq.ft (2024)
• Pakthavasalam Street (Ward -8): Rs 1,760 per sq.ft (2024)
• Pambaikaal Street (Ward -15): Rs 440 per sq.ft (2024)
• Pajanai Koil Street (Ward -18): Rs 550 per sq.ft (2024)
• Pambaikal Street (Per): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Palla Street (Ward -2)

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty is charged at 7%, which totals Rs 30,800, while the registration fee at 2% amounts to Rs 8,800. Therefore, the total cost for these fees together is Rs 39,600. 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 Street (Ward -2)?

Palla Street (Ward -2) falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Kattankollatur. It determines the minimum value at which a property can be sold and is used to calculate the stamp duty and registration fees applicable during the sale process.

When buying or selling property, the guideline value serves as a benchmark for both parties involved in the transaction. It is essential to be aware of the current guideline value to ensure compliance with registration requirements and to avoid any legal complications.

Frequently asked questions

What is the current guideline value of Palla Street (Ward -2)?

The current guideline value of Palla Street (Ward -2) is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification of Palla Street (Ward -2)?

Palla Street (Ward -2) is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is stamp duty calculated for properties in Kattankollatur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 4,40,000, the stamp duty at 7% would be Rs 30,800.