Guideline Value for PALM AVENUE

Palm Avenue guideline value

The current guideline value of Palm Avenue in Vengaleery village is Rs 1,100 per sq.ft, effective from 1 July 2024. This property falls under the jurisdiction of the Thiruporur Sub Registrar Office and is classified as Mixed Type - I.

How the guideline value of Palm Avenue has changed

The guideline value for Palm Avenue has seen several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. However, in the 2023 revision, the guideline value was set at Rs 1,000 per sq.ft, which was increased to Rs 1,100 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, there were no recorded figures for the street in the register for the years mentioned. The most recent increase reflects the current valuation trends as registered by the authorities.

Guideline values in Vengaleery

In Vengaleery, the guideline value for Palm Avenue is Rs 1,100 per sq.ft. This places it in context with other streets in the area. Below are the guideline values for other streets in Vengaleery:

• Vip City In Life On Green: Rs 1,642 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty charged at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000. Together, the total cost for these fees would be Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Palm Avenue?

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

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

The guideline value is a crucial factor in property transactions in Vengaleery, as it determines the minimum value at which a property can be registered. When a buyer or seller engages in a transaction, the guideline value is used to calculate the stamp duty and registration fees that must be paid to the authorities.

It is essential for both buyers and sellers to be aware of the current guideline value, as it influences the overall costs associated with property registration. This ensures that all transactions are compliant with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Palm Avenue?

The current guideline value of Palm Avenue is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Palm Avenue was Rs 1,000 per sq.ft in 2023 and increased to Rs 1,100 per sq.ft in 2024. There are no figures recorded for the years 2002, 2003, 2007, 2012, and 2017.

What are the stamp duty and registration fees for property in Palm Avenue?

For a 1,000 sq.ft plot, the total guideline value is Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000.

Where is the Thiruporur Sub Registrar Office located?

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

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property. It is essential for calculating the stamp duty and registration fees that buyers and sellers must pay during property transactions.