Guideline Value for PALLI SALAI

Palli Salai guideline value

The current guideline value of Palli Salai in Puliyur village, under the Kodambakkam SRO, is Rs 5,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Palli Salai has changed

Over the years, the guideline value of Palli Salai has seen significant changes. The earliest recorded figure is from 2003, which was Rs 1,391 per sq.ft. This figure increased to Rs 1,500 per sq.ft in 2007, marking an increase of 8%. In 2012, the value rose sharply to Rs 4,900 per sq.ft, reflecting a substantial increase of 227%. However, by 2017, the value decreased to Rs 3,283 per sq.ft, a decline of 33%. The value then rose again to Rs 4,900 per sq.ft in 2023, followed by a current value of Rs 5,300 per sq.ft from the 2024 revision, which is an increase of 8% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 281%. The register does not provide a figure for the year 2002 for this street.

Guideline values in Puliyur

Puliyur village has a total of 648 streets under the Kodambakkam SRO, with a 2024 guideline value range from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value in this area is Rs 5,800 per sq.ft, indicating that Palli Salai's current value is below this median.

• Pandian Avenue: Rs 6,300 per sq.ft (2024)
• Panduranga Colony: Rs 5,000 per sq.ft (2024)
• Pappathi Ammal Street: Rs 6,300 per sq.ft (2024)
• Parameswari Colony: Rs 5,800 per sq.ft (2024)
• Palaniappan Street: Rs 3,800 per sq.ft (2024)
• Parangusapuram Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Palli Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 5,300 per sq.ft, the total guideline value would be Rs 53,00,000. The stamp duty at 7% would amount to Rs 3,71,000, and the registration fee at 2% would be Rs 1,06,000, bringing the total fees together to Rs 4,77,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Palli Salai?

The Sub Registrar Office that covers Palli Salai is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Puliyur. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers must pay these fees based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it directly impacts the overall cost of property transactions. It ensures that all parties are aware of the official valuation set by the government, which is used for taxation purposes.

Frequently asked questions

What is the current guideline value of Palli Salai?

The current guideline value of Palli Salai is Rs 5,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,391 per sq.ft in 2003 to Rs 5,300 per sq.ft in 2024, showing an overall increase of 281% over the years.

What is the land classification for Palli Salai?

Palli Salai is classified as Residential Class II Type - I, indicating its designated use for residential purposes.

Where is the Sub Registrar Office for Palli Salai located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for property in Palli Salai?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 53,00,000, the stamp duty would be Rs 3,71,000 at 7%.