Guideline Value for PALM MEADOWS

Palm Meadows guideline value

The current guideline value of Palm Meadows, located in Gangadevankuppam village under the Cheyyur SRO, is Rs 500 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Palm Meadows has changed

The guideline value for Palm Meadows has seen several revisions over the years. The 2017 revision set the value at Rs 335 per sq.ft, which remained unchanged until the 2023 revision, where it was still Rs 500 per sq.ft. The latest revision in 2024 also maintains the guideline value at Rs 500 per sq.ft, indicating no change from the previous year.

From 2017 to 2023, there was a significant increase of 49%, and the overall change from 2017 to 2024 is also +49%. Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Gangadevankuppam

In Gangadevankuppam, the guideline value for Palm Meadows is Rs 500 per sq.ft. This area also includes other streets under the Cheyyur SRO:

• La-Richesse Ecr: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Palm Meadows

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, making the total cost for these fees Rs 45,000. It is important to note that 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Palm Meadows?

The Sub Registrar Office that covers Palm Meadows is the Cheyyur Sub Registrar Office, located at 3/156, Salt Road, Cheyyur- 603 302, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of buying or selling property in Gangadevankuppam. It serves as a benchmark for determining the minimum value at which property transactions can be registered.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the state receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Palm Meadows?

The current guideline value of Palm Meadows is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 335 per sq.ft to Rs 500 per sq.ft in both 2023 and 2024, marking a 49% increase overall.

What are the stamp duty rates for property in Palm Meadows?

The stamp duty for property in Palm Meadows is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the registration office for Palm Meadows?

The registration office for Palm Meadows is the Cheyyur Sub Registrar Office, located at 3/156, Salt Road, Cheyyur- 603 302, Chengalpattu registration zone.

How is the guideline value determined for property transactions?

The guideline value is determined by the Registration Department and is used as a benchmark for property transactions. It is essential for calculating stamp duty and registration fees during property sales.