Guideline Value for PALLA STREET (WARD -2)

Palla Street (Ward -2) guideline value

The current guideline value of Palla Street (Ward -2) is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Peramanoor village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class II Type - II.

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

The guideline value for Palla Street (Ward -2) has seen several revisions over the years. In the 2012 revision, the value was Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the value at Rs 550 per sq.ft, an increase of 10% from the previous year.

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

Guideline values in Peramanoor

In Peramanoor village, there are 430 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 550 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Palla Street's 2024 figure below that median.

• Palla Street Peramanur (Ward -15): Rs 550 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 550 per sq.ft (2024)
• Pajanai Koil Street (Ward -18): Rs 660 per sq.ft (2024)
• Pambaikal Street (Per): Rs 661 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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, leading to a total of Rs 49,500. Please note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Palla Street (Ward -2)?

Palla Street (Ward -2) is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

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

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 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 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 development.

Where can I find the Sub Registrar Office for Palla Street (Ward -2)?

The Chengleput Joint II Sub Registrar Office covers Palla Street (Ward -2) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Palla Street (Ward -2)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 at 7%.