Guideline Value for Palaiakkara Street

Palaiakkara Street guideline value

The current guideline value of Palaiakkara Street in Periyapalayam village is Rs 600 per sq.ft, effective from 1 July 2024. This street falls under the Arani_Tiruvallur SRO and is classified as Commercial Class I Type - I.

How the guideline value of Palaiakkara Street has changed

Over the years, the guideline value of Palaiakkara Street has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 100 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2012, marking a substantial rise of 500%. However, in 2017, the value decreased to Rs 402 per sq.ft, a decline of 33%. The subsequent revisions in 2023 and 2024 saw the value stabilize at Rs 600 per sq.ft, indicating no change from the previous year.

The overall change from 2007 to 2024 reflects a remarkable increase of 500%. It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Periyapalayam

In Periyapalayam, there are 31 streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value ranging from Rs 160 to Rs 600 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value of Palaiakkara Street is above this median.

• Panayancheri nagar: Rs 160 per sq.ft (2024)
• Periyapalayam - Chennai Road: Rs 400 per sq.ft (2024)
• Periyapalayam Shri Bhavani Amman Nagar: Rs 160 per sq.ft (2024)
• New Diamond City: Rs 600 per sq.ft (2024)
• Nethaji Nagar: Rs 200 per sq.ft (2024)
• M.G.R.Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Palaiakkara Street

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, while 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 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 Palaiakkara Street?

The Sub Registrar Office that covers Palaiakkara Street is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Periyapalayam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value can impact the overall cost of property transactions.

Additionally, it is essential for buyers and sellers to understand that the guideline value is set by the government and is regularly updated. This ensures that the values reflect the current market conditions and land classifications, which can influence property transactions in the area.

Frequently asked questions

What is the current guideline value of Palaiakkara Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, then decreased to Rs 402 per sq.ft in 2017, and has remained Rs 600 per sq.ft since 2023.

What is the land classification for Palaiakkara Street?

Palaiakkara Street is classified as Commercial Class I Type - I under the Arani_Tiruvallur SRO.

What are the stamp duty and registration fees for property in Palaiakkara Street?

For a 1,000 sq.ft plot at the guideline value of Rs 600 per sq.ft, the total stamp duty would be Rs 42,000 and the registration fee would be Rs 12,000, totaling Rs 54,000.

Where is the Sub Registrar Office for Palaiakkara Street located?

The Sub Registrar Office for Palaiakkara Street is located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone.