Guideline Value for PALM TREE SHANTHI AVENUE PHASE 3

Palm Tree Shanthi Avenue Phase 3 guideline value

The current guideline value for Palm Tree Shanthi Avenue Phase 3 is Rs 730 per sq.ft. This property is located in Thirumazhisai village, under the Poonamallee SRO, and is classified as Residential Class I Type - IV.

How the guideline value of Palm Tree Shanthi Avenue Phase 3 has changed

The guideline value for Palm Tree Shanthi Avenue Phase 3 has undergone several revisions over the years. The most recent revision, effective from 1 July 2024, set the guideline value at Rs 730 per sq.ft, an increase of 9% from the previous year's figure of Rs 670 per sq.ft in 2023. Notably, there was no change in the guideline value from 2017 to 2023, where it remained at Rs 670 per sq.ft. Overall, from 2017 to 2024, there has been a 9% increase in the guideline value.

Prior to the 2023 revision, the last recorded figure was also Rs 670 per sq.ft in 2017. The register does not contain figures for the years 2012, 2007, 2003, and 2002 for this street, indicating a lack of updates during those years.

Guideline values in Thirumazhisai

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

• Palm Tree Shanthi Avenue Phase 2: 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 3

For a 1,000 sq.ft plot at the current guideline value of Rs 730 per sq.ft, the total 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, bringing the total cost to Rs 65,700. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Palm Tree Shanthi Avenue Phase 3?

The Palm Tree Shanthi Avenue Phase 3 is covered by 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 a crucial metric used during the registration of property transactions in Thirumazhisai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value provides a transparent and standardized method to assess property worth. It helps both buyers and sellers understand the financial implications of their transactions, as the duty is charged based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value for Palm Tree Shanthi Avenue Phase 3?

The current guideline value for Palm Tree Shanthi Avenue Phase 3 is Rs 730 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2023 to Rs 730 per sq.ft in 2024, reflecting a 9% rise. There was no change from 2017 to 2023, where it remained at Rs 670 per sq.ft.

What is the land classification for Palm Tree Shanthi Avenue Phase 3?

Palm Tree Shanthi Avenue Phase 3 is classified as Residential Class I Type - IV, indicating its designation for residential purposes.

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. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Thirumazhisai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 7,30,000, the stamp duty at 7% would be Rs 51,100.