Guideline Value for PALLA ST

Palla St guideline value

The current guideline value of Palla St in Paleripattu village is Rs 990 per sq.ft, effective from 1 July 2024. This street falls under the Avadi SRO and is classified as Residential Class II Type - I.

How the guideline value of Palla St has changed

The guideline value for Palla St has undergone several revisions over the years. In 2012, the value was set at Rs 900 per sq.ft, which then decreased to Rs 603 per sq.ft in 2017. Following this, the value increased significantly to Rs 900 per sq.ft in 2023, and it has now risen to Rs 990 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the value has seen a 10% increase. The revisions for the years 2002, 2003, and 2007 have no figures recorded for this street.

Guideline values in Paleripattu

In Paleripattu, there are 111 streets under the Avadi SRO that have a 2024 guideline value ranging from Rs 801 to Rs 4,200 per sq.ft. The median value is Rs 990 per sq.ft, which is equal to the current guideline value of Palla St.

• Pallavan Nagar 1st Street: Rs 990 per sq.ft (2024)
• Pallavan Nagar 2nd Street: Rs 990 per sq.ft (2024)
• Pallavan Nagar 3rd Street: Rs 990 per sq.ft (2024)
• Pallavan Nagar Main Road: Rs 990 per sq.ft (2024)
• Pallikooda St: Rs 990 per sq.ft (2024)
• Pandit Nehru St: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Palla St

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total charges together to Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Palla St?

The Sub Registrar Office covering Palla St 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 Paleripattu

The guideline value is a crucial factor during the registration of property transactions in Paleripattu. It serves as a benchmark for determining the minimum value for which a property can be registered, ensuring that the government collects appropriate stamp duties and registration fees.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. Buyers and sellers must be aware of the current guideline value to understand the costs associated with registration and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Palla St?

The current guideline value of Palla St is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification for Palla St?

Palla St is classified as Residential Class II Type - I. This classification indicates the type of development permissible in the area.

Where is the Sub Registrar Office for Palla St located?

The Sub Registrar Office for Palla St 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 property in Palla St?

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 the current rate would incur a stamp duty of Rs 69,300.