Guideline Value for PALVADI PALLI ROAD

Palvadi Palli Road guideline value

The current guideline value of Palvadi Palli Road is Rs 1,300 per sq.ft, effective from 1 July 2024. This road is located in Arasankalani village, under the Selaiyur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Palvadi Palli Road has changed

The guideline value for Palvadi Palli Road has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017. However, the value saw a significant increase to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft in the 2024 revision, reflecting an 8% increase from the previous year.

Between 2012 and 2017, the guideline value decreased by 33%. From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Arasankalani

In Arasankalani, there are 85 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 4,750 per sq.ft. The median value for these streets is Rs 2,100 per sq.ft, placing Palvadi Palli Road's current guideline value below the median.

• Pazhandiamman Koil Street: Rs 1,300 per sq.ft (2024)
• Ottiyambakkam-Chithalapakkam Road: Rs 2,100 per sq.ft (2024)
• Ottiambakkam - Sithalapakkam Road: Rs 2,100 per sq.ft (2024)
• Perumal Koil Street: Rs 1,300 per sq.ft (2024)
• Perumal Nagar Road: Rs 1,650 per sq.ft (2024)
• Perumbakkam Koil Street: Rs 2,100 per sq.ft (2024)

Stamp duty and registration fee for property in Palvadi Palli Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total cost for these fees Rs 1,17,000. 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 more information.

Which Sub Registrar Office covers Palvadi Palli Road?

The Sub Registrar Office that covers Palvadi Palli Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Arasankalani. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs involved in the property transfer process. Therefore, understanding the guideline value is important for both buyers and sellers to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Palvadi Palli Road?

The current guideline value of Palvadi Palli Road is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and currently to Rs 1,300 per sq.ft in 2024.

What is the median guideline value in Arasankalani?

The median guideline value for streets in Arasankalani is Rs 2,100 per sq.ft, which is higher than the current value of Palvadi Palli Road.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.