Guideline Value for PALM AVENUE

Palm Avenue guideline value

The current guideline value of Palm Avenue in Kattoor village is Rs 602 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Thiruporur SRO and is classified as Mixed Type - I land.

How the guideline value of Palm Avenue has changed

The guideline value for Palm Avenue has undergone significant changes over the years. The 2023 revision set the value at Rs 1,000 per sq.ft, which was then reduced by 40% to Rs 602 per sq.ft in the 2024 revision. There are no figures available for the revisions in 2017, 2012, 2007, 2003, and 2002 for this street.

In summary, the most recent revision reflects a notable decrease from the previous year's guideline value. The current rate of Rs 602 per sq.ft is below the median guideline value of Rs 749 per sq.ft for the 22 streets in Kattoor under the Thiruporur SRO.

Guideline values in Kattoor

Kattoor village has a range of guideline values for its streets, with figures varying from Rs 250 to Rs 1,493 per sq.ft in the 2024 revision. The guideline value for Palm Avenue is lower than the median value of Rs 749 per sq.ft. Below are the guideline values for other streets in Kattoor:

• Paradise Village: Rs 1,000 per sq.ft (2024)
• Paradise Village Sai Garden: Rs 602 per sq.ft (2024)
• M.S. Nagar: Rs 1,269 per sq.ft (2024)
• Sai Garden: Rs 600 per sq.ft (2024)
• Sowndharya Avenue: Rs 300 per sq.ft (2024)
• Sri Arumugam Nagar: Rs 602 per sq.ft (2024)

Stamp duty and registration fee for property in Palm Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 602 per sq.ft, the total guideline value amounts to Rs 6,02,000. The stamp duty at 7% would be Rs 42,140, and the registration fee at 2% would be Rs 12,040, bringing the total fees to Rs 54,180. It is important to note that 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?

The Sub Registrar Office that covers Palm Avenue is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Kattoor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property transaction occurs, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the necessary legal obligations are met during the transaction process.

Frequently asked questions

What is the current guideline value of Palm Avenue?

The current guideline value of Palm Avenue is Rs 602 per sq.ft, effective from 1 July 2024.

How much did the guideline value change from 2023 to 2024?

The guideline value decreased from Rs 1,000 per sq.ft in 2023 to Rs 602 per sq.ft in 2024, representing a reduction of 40%.

What is the land classification for Palm Avenue?

Palm Avenue is classified as Mixed Type - I land according to the guidelines set by the Thiruporur SRO.

Where can I find the Thiruporur Sub Registrar Office?

The Thiruporur Sub Registrar Office is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Palm Avenue?

Stamp duty for properties in Palm Avenue is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 54,180.