Guideline Value for PALVADI THERU

Palvadi Theru guideline value

The current guideline value of Palvadi Theru is Rs 600 per sq.ft, effective from 1 July 2024. This street is located in Neelamangalam village and falls under the Gooduvancheri SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Palvadi Theru has changed

The guideline value for Palvadi Theru has remained consistent at Rs 600 per sq.ft for both the 2023 and 2024 revisions. Prior to this, the 2017 revision set the value at Rs 402 per sq.ft, marking a significant increase of 49% from 2017 to 2023 and maintaining that same value into 2024.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Therefore, the only revisions that reflect a guideline value are from 2017, 2023, and 2024.

Guideline values in Neelamangalam

In Neelamangalam, there are 41 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 600 per sq.ft, which aligns with the 2024 figure for Palvadi Theru.

• Nayantarra Avenue: Rs 2,000 per sq.ft (2024)
• Namann nagar Extension: Rs 500 per sq.ft (2024)
• Namann nagar: Rs 500 per sq.ft (2024)
• Mupathamman Nagar: Rs 600 per sq.ft (2024)
• Metro Square: Rs 600 per sq.ft (2024)
• Malar Avenue: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Palvadi Theru

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Palvadi Theru?

The Sub Registrar Office that covers Palvadi Theru is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Neelamangalam. It serves as a benchmark for property transactions and is used to calculate the stamp duty and registration fees applicable during the registration process.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Palvadi Theru?

The current guideline value of Palvadi Theru is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft for the years 2023 and 2024. It increased from Rs 402 per sq.ft in 2017, marking a 49% increase over that period.

Where can I find the registration office for Palvadi Theru?

The registration office for Palvadi Theru is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

What are the stamp duty rates for property in Palvadi Theru?

The stamp duty for property in Palvadi Theru is 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2%.

What is the land classification for Palvadi Theru?

The land classification for Palvadi Theru is Residential Class IV Type - II, which indicates the type of residential use permitted in this area.