Guideline Value for PALLAKKU MANYAM 12TH LANE

Pallakku Manyam 12th Lane guideline value

The current guideline value of Pallakku Manyam 12th Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class V Type - III.

How the guideline value of Pallakku Manyam 12th Lane has changed

The guideline value for Pallakku Manyam 12th Lane has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, up from Rs 3,000 per sq.ft in 2023, marking a 10% increase. Prior to that, in 2017, the value was Rs 2,010 per sq.ft, which increased by 49% to reach the 2023 figure. The 2012 revision also recorded a value of Rs 3,000 per sq.ft, but this was a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Mylapore

In Mylapore, there are a total of 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. Pallakku Manyam 12th Lane's 2024 guideline value is below this median.

• Pallakku Manyam 11th Lane: Rs 3,300 per sq.ft (2024)
• Pallakku Manyam 13th Lane: Rs 3,300 per sq.ft (2024)
• Pallakku Manyam 10th Lane: Rs 3,300 per sq.ft (2024)
• Pallakku Manyam 14th Lane: Rs 3,300 per sq.ft (2024)
• Pallakku Manyam: Rs 3,300 per sq.ft (2024)
• Pallakku Manyam 1st Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pallakku Manyam 12th Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pallakku Manyam 12th Lane?

The Sub Registrar Office that covers Pallakku Manyam 12th Lane is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor when it comes to the registration of property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the official worth of the property as recognized by the state. This value is used to calculate the stamp duty and registration fees, which are necessary for completing the transaction legally.

Frequently asked questions

What is the current guideline value of Pallakku Manyam 12th Lane?

The current guideline value of Pallakku Manyam 12th Lane is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, a 10% increase. It was Rs 2,010 per sq.ft in 2017, which increased to Rs 3,000 per sq.ft in 2012, and then decreased by 33% to Rs 2,010 per sq.ft in 2017.

What is the land classification for Pallakku Manyam 12th Lane?

The land classification for Pallakku Manyam 12th Lane is Residential Class V Type - III, indicating its designation for residential use.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is typically charged at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% applicable.

Which office handles registrations for Pallakku Manyam 12th Lane?

The Mylapore Sub Registrar Office handles registrations for Pallakku Manyam 12th Lane, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.