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 Sattamangalam 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

The guideline value for Palla Street has undergone several revisions over the years. In 2012, the guideline value was Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in 2017. Following this, the value increased significantly to Rs 400 per sq.ft in 2023 and further rose to Rs 440 per sq.ft in 2024, marking a 10% increase from the previous year.

Looking at the changes, from 2017 to 2023, there was a notable increase of 49%. However, the period from 2012 to 2017 saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

In Sattamangalam village, there are 425 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing 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 would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, while the registration fee at 2% would be Rs 8,800, leading to a total cost of Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating these fees, 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, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sattamangalam. It serves as a benchmark for determining the minimum value for which property can be registered, ensuring that the registration reflects a fair value based on the locality.

When a property transaction occurs, the stamp duty and registration fees are calculated based on this guideline value. This ensures that both the buyer and seller adhere to the legal requirements set forth by the state, facilitating a transparent transaction process.

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 for Palla Street (Ward -2)?

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

What are the other streets in Sattamangalam with similar guideline values?

Other streets in Sattamangalam include Palla Street Peramanur (Ward -15) and Pambaikaal Street (Ward -15), both at Rs 440 per sq.ft in 2024.

Where can I find the Chengleput Joint II Sub Registrar Office?

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