Guideline Value for PALLA STREET

Palla Street guideline value

The current guideline value of Palla Street in Thandurai village, under the Avadi SRO, is Rs 988 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Palla Street has changed

The guideline value for Palla Street has seen several revisions over the years. In 2002, the value was Rs 72 per sq.ft, which increased to Rs 83 per sq.ft in 2003. Following this, the value surged dramatically to Rs 900 per sq.ft in 2012. However, it then decreased to Rs 603 per sq.ft in 2017. The value rose again to Rs 900 per sq.ft in 2023, and finally, it reached Rs 988 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Notably, there is no figure available for Palla Street in the 2007 revision. The overall increase in the guideline value from 2002 to 2024 is a substantial 1272%, showcasing the significant changes over the years.

Guideline values in Thandurai

In Thandurai, there are 331 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 800 to Rs 2,640 per sq.ft. The median value is Rs 988 per sq.ft, which is equal to the guideline value of Palla Street for 2024.

• Pallaikooda Cross St, M.K.Bharathi Nagar: Rs 988 per sq.ft (2024)
• Pallavan Steet Cholan Nagar: Rs 1,300 per sq.ft (2024)
• Pallavan Street Charless Nagar: Rs 1,300 per sq.ft (2024)
• Pallikooda 1st Street (M.T.H.Road Southern Side): Rs 988 per sq.ft (2024)
• Pallikooda 2nd Street (M.T.H.Road Southern Side): Rs 988 per sq.ft (2024)
• Pallikooda St: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Palla Street

For a 1,000 sq.ft plot at the current guideline value of Rs 988 per sq.ft, the total guideline value amounts to Rs 9,88,000. The stamp duty at 7% would be Rs 69,160, and the registration fee at 2% would be Rs 19,760, bringing the total cost for these fees to Rs 88,920. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Palla Street?

The Sub Registrar Office that covers Palla Street is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Thandurai. It serves as a benchmark for determining the minimum price at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in establishing the fair valuation of the property. Buyers and sellers must consider this value to avoid any discrepancies during the registration process, as it directly impacts the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Palla Street?

The current guideline value of Palla Street is Rs 988 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 72 per sq.ft in 2002 to Rs 988 per sq.ft in 2024, showing a significant increase over the years.

What is the land classification of Palla Street?

Palla Street is classified under Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Palla Street?

For a property valued at Rs 9,88,000, the stamp duty would be Rs 69,160 and the registration fee would be Rs 19,760, totaling Rs 88,920.

Where is the Sub Registrar Office for Palla Street located?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.