Guideline Value for PALM AVENUE PART-I,II,III

Palm Avenue Part-I,II,III guideline value

The current guideline value of Palm Avenue Part-I,II,III is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Pazhayaseevaram -A village under the Walajabad SRO, and it falls under the Residential Class I Type - II land classification.

How the guideline value of Palm Avenue Part-I,II,III has changed

The guideline value for Palm Avenue Part-I,II,III has seen several revisions over the years. The most recent revision in 2024 maintains the guideline value at Rs 400 per sq.ft, which is the same as the 2023 revision. The 2017 revision recorded a guideline value of Rs 268 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2012.

From 2017 to 2023, the guideline value increased by 49%, and from 2017 to 2024, it has also increased by 49%. The consistent value of Rs 400 per sq.ft from 2023 to 2024 indicates no change during this period.

Guideline values in Pazhayaseevaram -A

Pazhayaseevaram -A has 26 streets under the Walajabad SRO with 2024 guideline values ranging from Rs 200 to Rs 500 per sq.ft. The median guideline value for these streets is Rs 350 per sq.ft, placing Palm Avenue Part-I,II,III above this median.

• Pazhayaseevaram Madhura Sankarapuram: Rs 250 per sq.ft (2024)
• Pjr Temple Gate: Rs 500 per sq.ft (2024)
• Royal Avenue-II: Rs 250 per sq.ft (2024)
• Lakshmi Sri Nagar Part-I Ext-2: Rs 250 per sq.ft (2024)
• Kothai Vanam: Rs 500 per sq.ft (2024)
• Sri Arunachala City Phase-III: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Palm Avenue Part-I,II,III

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, making the total cost Rs 36,000. The duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Palm Avenue Part-I,II,III?

The Palm Avenue Part-I,II,III is covered by the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

You can find your SRO for more information.

How the guideline value is used when you buy or sell in Pazhayaseevaram -A

The guideline value plays a crucial role during the registration of property transactions in Pazhayaseevaram -A. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Palm Avenue Part-I,II,III?

The current guideline value of Palm Avenue Part-I,II,III is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft from 2023 to 2024. It increased by 49% from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023.

What is the median guideline value of streets in Pazhayaseevaram -A?

The median guideline value for streets in Pazhayaseevaram -A is Rs 350 per sq.ft, with Palm Avenue Part-I,II,III being above this median.

What are the stamp duty rates for property in Palm Avenue Part-I,II,III?

The stamp duty for property in Palm Avenue Part-I,II,III is charged at 7% of the guideline value or sale price, whichever is higher.

Which office handles property registration for Palm Avenue Part-I,II,III?

The Walajabad Sub Registrar Office handles property registration for Palm Avenue Part-I,II,III, located on Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.