Guideline Value for Palagai Thottikuppam

Palagai Thottikuppam guideline value

The current guideline value of Palagai Thottikuppam is Rs 1,400 per sq.ft, effective from 1 July 2024. This area is located in Ernavur village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Palagai Thottikuppam has changed

The guideline value for Palagai Thottikuppam has seen several revisions over the years. In 2002, the value was Rs 145 per sq.ft, which increased to Rs 165 per sq.ft in 2003, marking a 14% rise. The value then saw a 21% increase to Rs 200 per sq.ft in 2007. Following that, it experienced a significant jump of 550% to reach Rs 1,300 per sq.ft in 2012. However, in 2017, the value dropped by 33% to Rs 871 per sq.ft. The next revision in 2023 brought the value up to Rs 1,300 per sq.ft, and the most recent revision in 2024 has set the guideline value at Rs 1,400 per sq.ft, reflecting an 8% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 866%. There are no figures available for some years in the register for this street.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 7,300 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Palagai Thottikuppam is below this median.

• New Colony: Rs 1,400 per sq.ft (2024)
• Nethal Nagar(TNHB): Rs 3,300 per sq.ft (2024)
• Nethaji Nagar: Rs 1,600 per sq.ft (2024)
• Neithal: Rs 3,800 per sq.ft (2024)
• Pidariamman Koil street: Rs 1,400 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Palagai Thottikuppam

For a 1,000 sq.ft plot at the current rate of Rs 1,400 per sq.ft, the guideline value amounts to Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000, bringing the total to Rs 1,26,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Palagai Thottikuppam?

The Sub Registrar Office covering Palagai Thottikuppam is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for further assistance.

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

The guideline value is a critical factor in property transactions, as it serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. When you register a property, the guideline value is used to calculate the associated costs, ensuring that all transactions are conducted fairly and transparently.

It is essential for buyers and sellers to be aware of the guideline value, as it influences the financial aspects of property transactions. The registration process will require adherence to these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Palagai Thottikuppam?

The current guideline value of Palagai Thottikuppam is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 145 per sq.ft in 2002 to Rs 1,400 per sq.ft in 2024, marking an overall increase of 866% over the years.

What is the land classification of Palagai Thottikuppam?

Palagai Thottikuppam is classified as Residential Class I Type - III.

What is the registration office for Palagai Thottikuppam?

The Thiruvottiyur Sub Registrar Office covers Palagai Thottikuppam, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated in Palagai Thottikuppam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 14,00,000, the stamp duty would be Rs 98,000 at a rate of 7%.