Guideline Value for PALM TREE SHANTHI AVENUE PHASE 5

Palm Tree Shanthi Avenue Phase 5 guideline value

The current guideline value for Palm Tree Shanthi Avenue Phase 5 is Rs 730 per sq.ft, effective from 1 July 2024. 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 5 has changed

The guideline value for Palm Tree Shanthi Avenue Phase 5 has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 730 per sq.ft, an increase from Rs 670 per sq.ft in the 2023 revision. Notably, there were no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Looking back further, the guideline value remained unchanged at Rs 670 per sq.ft from 2017 to 2023. Overall, from 2017 to 2024, the guideline value has increased by 9% from Rs 670 per sq.ft to Rs 730 per sq.ft.

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 in this area is Rs 1,320 per sq.ft, placing Palm Tree Shanthi Avenue Phase 5 below that median.

• Palm Tree Shanthi Avenue Phase 4: Rs 1,100 per sq.ft (2024)
• Palm Tree Shanthi Avenue Phase 3: Rs 730 per sq.ft (2024)
• Palm Tree Shanthi Avenue Phase 2: 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 5

For a 1,000 sq.ft plot at the current guideline value of Rs 730 per sq.ft, the total guideline value would be Rs 7,30,000. The stamp duty at 7% would amount to Rs 51,100, and the registration fee at 2% would be Rs 14,600, making the total fees together Rs 65,700. 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 further calculations.

Which Sub Registrar Office covers Palm Tree Shanthi Avenue Phase 5?

The Palm Tree Shanthi Avenue Phase 5 falls under the jurisdiction of the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Thirumazhisai. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value serves as a reference point to ensure that the transaction is recorded accurately. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for Palm Tree Shanthi Avenue Phase 5?

The current guideline value for Palm Tree Shanthi Avenue Phase 5 is Rs 730 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 9%, from Rs 670 per sq.ft in 2017 to Rs 730 per sq.ft in 2024.

What is the classification of land in Palm Tree Shanthi Avenue Phase 5?

The land classification for Palm Tree Shanthi Avenue Phase 5 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 Thirumazhisai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% of the guideline value.