Guideline Value for PALLA STREET

Palla Street guideline value

The current guideline value of Palla Street in Thiruninravur-B village is Rs 770 per sq.ft, effective from 1 July 2024. This street falls under the Avadi SRO and is classified as Residential Class II Type - III.

How the guideline value of Palla Street has changed

The guideline value for Palla Street has undergone several revisions over the years. The 2017 revision set the value at Rs 469 per sq.ft. In 2023, this increased to Rs 700 per sq.ft, marking a significant rise of 49%. The latest revision in 2024 has further increased the guideline value to Rs 770 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for Palla Street for the years 2002, 2003, 2007, and 2012 in the register.

Guideline values in Thiruninravur-B

In Thiruninravur-B, there are 374 streets under the Avadi SRO that carry a guideline value for 2024, ranging from Rs 330 to Rs 1,760 per sq.ft. The median value for these streets is Rs 770 per sq.ft, which matches the guideline value of Palla Street.

• Palla Karuneegar St: Rs 440 per sq.ft (2024)
• Palavedu Road: Rs 770 per sq.ft (2024)
• Palaru Kinaru Street: Rs 440 per sq.ft (2024)
• Pallikooda Street: Rs 440 per sq.ft (2024)
• Palaniyappa Nagar: Rs 870 per sq.ft (2024)
• Pachaiyamman Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Palla Street

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. It is important to 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?

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. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Thiruninravur-B

The guideline value is a crucial aspect when registering a property in Thiruninravur-B. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for property transactions. This ensures that both the buyer and seller are aware of the financial implications involved in the registration process.

Frequently asked questions

What is the current guideline value of Palla Street?

The current guideline value of Palla Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023, and then to Rs 770 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024.

What are the other streets in Thiruninravur-B?

Other streets in Thiruninravur-B include Palla Karuneegar St, Palavedu Road, Palaru Kinaru Street, Pallikooda Street, Palaniyappa Nagar, and Pachaiyamman Nagar, with varying guideline values.

Where is the Sub Registrar Office for Palla Street located?

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

How is stamp duty calculated for properties in Palla Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 770 per sq.ft would incur a stamp duty of Rs 53,900.