Guideline Value for Palace Estate City -V

Palace Estate City -V guideline value

The current guideline value of Palace Estate City -V is Rs 600 per sq.ft, effective from 1 July 2024. This property is located in Kolathur village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - I.

How the guideline value of Palace Estate City -V has changed

In the 2023 revision, the guideline value for Palace Estate City -V was Rs 600 per sq.ft. The 2024 revision maintains this figure, showing no change from the previous year, with an increase of +0% from 2023 to 2024. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

As a result, the guideline value has remained stable at Rs 600 per sq.ft since the 2023 revision. The current value is consistent with the median guideline value of Rs 600 per sq.ft for other streets in Kolathur under the Chengleput Joint II SRO.

Guideline values in Kolathur

In Kolathur, there are 58 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 1,600 per sq.ft. The median value is Rs 600 per sq.ft, which is equal to the guideline value of Palace Estate City -V.

• Palace Estate City Phase-II: Rs 600 per sq.ft (2024)
• Ponni Amman Nagar: Rs 600 per sq.ft (2024)
• Murugan Syndicate: Rs 600 per sq.ft (2024)
• Mountain View Avenue: Rs 600 per sq.ft (2024)
• Rainbow Garden: Rs 1,344 per sq.ft (2024)
• Raj Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Palace Estate City -V

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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Palace Estate City -V?

The Palace Estate City -V is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kolathur, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer.

It is important to note that the guideline value may influence the sale price, but it does not necessarily reflect the actual market price of properties. Buyers and sellers should be aware of the guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Palace Estate City -V?

The current guideline value of Palace Estate City -V 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 stable at Rs 600 per sq.ft since the 2023 revision. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the land classification for Palace Estate City -V?

Palace Estate City -V is classified as Residential Special Type - I, indicating its designation for residential use.

What are the stamp duty and registration fees for a property in Palace Estate City -V?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 54,000.

Which office handles the registration for Palace Estate City -V?

The Chengleput Joint II Sub Registrar Office handles the registration for Palace Estate City -V, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.