Guideline Value for PALLAKKU MANYAM 13TH LANE

Pallakku Manyam 13th Lane guideline value

The current guideline value of Pallakku Manyam 13th Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - III.

How the guideline value of Pallakku Manyam 13th Lane has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a drop of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, reflecting a rise of 49%. The latest revision in 2024 shows a further increase to Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Mylapore

In Mylapore, there are 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. The guideline value of Pallakku Manyam 13th Lane is below this median.

• Pallakku Manyam 12th Lane: Rs 3,300 per sq.ft (2024)
• Pallakku Manyam 14th Lane: Rs 3,300 per sq.ft (2024)
• Pallakku Manyam 11th Lane: Rs 3,300 per sq.ft (2024)
• Pallakku Manyam 1st lane: Rs 3,300 per sq.ft (2024)
• Pallakku Manyam 10th Lane: Rs 3,300 per sq.ft (2024)
• Pallakku Manyam 2nd lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pallakku Manyam 13th 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 amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Pallakku Manyam 13th Lane?

The Sub Registrar Office that covers Pallakku Manyam 13th 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 details.

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

The guideline value plays a crucial role during property registration in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers must be aware that these fees are based on the guideline value or the sale price, whichever is higher, which could affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Pallakku Manyam 13th Lane?

The current guideline value of Pallakku Manyam 13th 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 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and currently to Rs 3,300 per sq.ft in 2024.

What is the land classification for Pallakku Manyam 13th Lane?

Pallakku Manyam 13th Lane is classified as Residential Class V Type - III.

Where can I find the Sub Registrar Office for Pallakku Manyam 13th Lane?

The Sub Registrar Office for Pallakku Manyam 13th Lane is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is the stamp duty calculated for properties in Pallakku Manyam 13th Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.