Guideline Value for PALLAKKU MANYAM

Pallakku Manyam guideline value

The current guideline value of Pallakku Manyam is Rs 3,300 per sq.ft, effective from 1 July 2024. This area 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 has changed

The guideline value for Pallakku Manyam has seen several revisions over the years. Starting from Rs 590 per sq.ft in 2002, it increased to Rs 656 per sq.ft in 2003, marking an 11% rise. The value then experienced a significant increase to Rs 900 per sq.ft in 2007, which was a 37% change. In 2012, the value rose to Rs 3,000 per sq.ft, reflecting a substantial 233% increase. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, which was a drop of 33%. The value then climbed to Rs 3,000 per sq.ft in 2023, a 49% increase, and most recently, it has risen to Rs 3,300 per sq.ft in 2024, representing a 10% increase.

There are no figures available for the revisions in years other than those listed. The overall increase from 2002 to 2024 is 459%.

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 for Pallakku Manyam is below this median.

• Pallakku Manyam 10th Lane: Rs 3,300 per sq.ft (2024)
• Pallakku Manyam 11th Lane: Rs 3,300 per sq.ft (2024)
• Pallakku Manyam 12th Lane: Rs 3,300 per sq.ft (2024)
• Pallakku Manyam 13th Lane: Rs 3,300 per sq.ft (2024)
• Pallakku Manyam 14th Lane: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to 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 to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your dues using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pallakku Manyam?

The Sub Registrar Office that covers Pallakku Manyam 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 in property transactions in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay during the registration process. The guideline value reflects the government's assessment of property values in the area, ensuring that the fees collected are based on an accurate valuation.

When buying or selling property, it is essential to understand that the guideline value may differ from the actual sale price. The registration office will charge the stamp duty based on the higher of the guideline value or the sale price, ensuring compliance with regulatory requirements.

Frequently asked questions

What is the current guideline value of Pallakku Manyam?

The current guideline value of Pallakku Manyam 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 increased from Rs 590 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 459% over the years.

What is the land classification of Pallakku Manyam?

Pallakku Manyam is classified as Residential Class V Type - III under the Mylapore SRO.

What are the stamp duty and registration fees for properties in Pallakku Manyam?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Pallakku Manyam located?

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