Guideline Value for PALM TREE SHANTHI AVENUE PHASE 2

Palm Tree Shanthi Avenue Phase 2 guideline value

The current guideline value of Palm Tree Shanthi Avenue Phase 2 is Rs 730 per sq.ft, effective from 1 July 2024. This property is located in Thirumazhisai village, under the Poonamallee SRO. The land classification for this area is Residential Class I Type - IV.

How the guideline value of Palm Tree Shanthi Avenue Phase 2 has changed

The guideline value for Palm Tree Shanthi Avenue Phase 2 has seen several revisions over the years. In the 2017 revision, the guideline value was Rs 670 per sq.ft. This figure remained unchanged in the 2023 revision, but in the 2024 revision, it increased to Rs 730 per sq.ft, marking a 9% rise from the previous year. The register has no figures for this street for the years 2002, 2003, 2007, and 2012.

Overall, from 2017 to 2024, the guideline value increased by 9%. This reflects the changes made in the most recent revision, which has set the current rate at Rs 730 per sq.ft.

Guideline values in Thirumazhisai

In Thirumazhisai, there are 86 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 730 to Rs 3,500 per sq.ft, with a median value of Rs 1,320 per sq.ft. Palm Tree Shanthi Avenue Phase 2's 2024 figure is below this median.

• Palm Tree Shanthi Avenue Phase 3: Rs 730 per sq.ft (2024)
• Palm Tree Shanthi Avenue Phase 4: Rs 1,100 per sq.ft (2024)
• Palm Tree Shanthi Avenue Phase 5: Rs 730 per sq.ft (2024)
• Paradise City: Rs 1,210 per sq.ft (2024)
• New Blossom: Rs 1,800 per sq.ft (2024)
• Nedunsalai mani's cafes Atheekenaru: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Palm Tree Shanthi Avenue Phase 2

For a 1,000 sq.ft plot at the current rate of Rs 730 per sq.ft, the guideline value amounts to Rs 7,30,000. The stamp duty at 7% would be Rs 51,100, and the registration fee at 2% would be Rs 14,600, totaling Rs 65,700. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Palm Tree Shanthi Avenue Phase 2?

The Sub Registrar Office that covers Palm Tree Shanthi Avenue Phase 2 is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is an important factor in property transactions in Thirumazhisai, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

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

Frequently asked questions

What is the current guideline value of Palm Tree Shanthi Avenue Phase 2?

The current guideline value of Palm Tree Shanthi Avenue Phase 2 is Rs 730 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 670 per sq.ft in 2023 to Rs 730 per sq.ft in 2024, marking a 9% increase.

What is the land classification for Palm Tree Shanthi Avenue Phase 2?

The land classification for Palm Tree Shanthi Avenue Phase 2 is Residential Class I Type - IV.

Where can I find the Poonamallee Sub Registrar Office?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.