Guideline Value for PALLIPATTU NARASIMHACHARI STREET

Pallipattu Narasimhachari Street guideline value

The current guideline value of Pallipattu Narasimhachari Street is Rs 1,110 per sq.ft, effective from 1 July 2024. This street is located in Mathuranthagam village, under the Madurandakam SRO, and is classified as Residential Special Type - I.

How the guideline value of Pallipattu Narasimhachari Street has changed

The guideline value of Pallipattu Narasimhachari Street has seen several revisions over the years. In 2007, the value was Rs 350 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a rise of 186%. However, it then decreased to Rs 670 per sq.ft in 2017, a drop of 33%. Following this, the value rose to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,110 per sq.ft in 2024, reflecting an increase of 11% from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 217%.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,480 per sq.ft. The median value is Rs 1,100 per sq.ft, placing Pallipattu Narasimhachari Street's 2024 figure above that median.

• Parthasarathi Naidu Street: Rs 1,110 per sq.ft (2024)
• Periya Colony Madha Koil Street: Rs 660 per sq.ft (2024)
• Periya Colony Mariamman Koil Street: Rs 660 per sq.ft (2024)
• Periya Colony North Street: Rs 660 per sq.ft (2024)
• Old Police Otha Vaadai Street: Rs 1,100 per sq.ft (2024)
• Old Machine Street: Rs 1,110 per sq.ft (2024)

Stamp duty and registration fee for property in Pallipattu Narasimhachari Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value would be Rs 11,10,000. The stamp duty at 7% would be Rs 77,700, and the registration fee at 2% would be Rs 22,200, bringing the total cost for these fees to Rs 99,900. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pallipattu Narasimhachari Street?

The Sub Registrar Office that covers Pallipattu Narasimhachari Street is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mathuranthagam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on it.

When registering a property, the guideline value ensures that the government receives the appropriate taxes. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Pallipattu Narasimhachari Street?

The current guideline value of Pallipattu Narasimhachari Street is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 350 per sq.ft in 2007 to Rs 1,110 per sq.ft in 2024, with various revisions in between, including a decrease in 2017 and increases in subsequent years.

What is the median guideline value in Mathuranthagam?

The median guideline value in Mathuranthagam is Rs 1,100 per sq.ft, with Pallipattu Narasimhachari Street's 2024 figure being above this median.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. An example for a 1,000 sq.ft plot shows total fees amounting to Rs 99,900.

Which office handles the registration of properties on Pallipattu Narasimhachari Street?

The Madurandakam Sub Registrar Office handles the registration of properties on Pallipattu Narasimhachari Street, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.