Guideline Value for PERIYA PALAIYATHAMMAN 2ND LANE

Periya Palaiyathamman 2nd Lane guideline value

The current guideline value of Periya Palaiyathamman 2nd Lane is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class V Type - III.

How the guideline value of Periya Palaiyathamman 2nd Lane has changed

The guideline value for Periya Palaiyathamman 2nd Lane has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 85 per sq.ft. This increased significantly to Rs 95 per sq.ft in 2003, marking a 12% rise. The value continued to climb, reaching Rs 400 per sq.ft in 2007, which was a remarkable increase of 321%. By 2012, the value had risen to Rs 1,000 per sq.ft, reflecting a 150% increase from 2007. However, it then dropped to Rs 670 per sq.ft in 2017, a decrease of 33%.

In the following years, the guideline value saw a substantial increase again, reaching Rs 1,000 per sq.ft in 2023, which was a 49% rise from 2017. The latest revision in 2024 has set the value at Rs 1,100 per sq.ft, a 10% increase from the previous year. There are no figures available for any other revisions for this street.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, indicating that the 2024 guideline value for Periya Palaiyathamman 2nd Lane is below the median.

• Periya Palaiyathamman 1st Lane: Rs 1,100 per sq.ft (2024)
• Periya Palaiyathamman Street: Rs 1,100 per sq.ft (2024)
• Periya Palayathamman Koil 1st Street: Rs 1,100 per sq.ft (2024)
• Periya Palayathamman Koil 2nd Street: Rs 1,100 per sq.ft (2024)
• Periya Palayathamman Koil 3rd Street: Rs 1,100 per sq.ft (2024)
• Periya Palayathamman Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Periya Palaiyathamman 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost for these fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Periya Palaiyathamman 2nd Lane?

The Sub Registrar Office that covers Periya Palaiyathamman 2nd Lane is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Manapakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the transaction.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. These fees are typically based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Periya Palaiyathamman 2nd Lane?

The current guideline value of Periya Palaiyathamman 2nd Lane is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 85 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 1194% over the years.

What is the registration office for Periya Palaiyathamman 2nd Lane?

The registration office for Periya Palaiyathamman 2nd Lane is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How do I calculate stamp duty for property in Periya Palaiyathamman 2nd Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at 7%.

What are the other streets in Manapakkam with the same guideline value?

Other streets in Manapakkam with a guideline value of Rs 1,100 per sq.ft include Periya Palaiyathamman 1st Lane, Periya Palaiyathamman Street, Periya Palayathamman Koil 1st Street, Periya Palayathamman Koil 2nd Street, and Periya Palayathamman Koil 3rd Street.