Guideline Value for Palani Andavar Koil street

Palani Andavar Koil street guideline value

The current guideline value of Palani Andavar Koil street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Chindadripet village under the Periamet SRO, classified as Residential Class I Type - I.

How the guideline value of Palani Andavar Koil street has changed

Over the years, the guideline value of Palani Andavar Koil street has seen significant changes. The earliest recorded revision was in 2007, where the value was Rs 900 per sq.ft. This figure increased to Rs 4,500 per sq.ft in 2012, marking a substantial increase of 400%. However, it then decreased to Rs 3,015 per sq.ft in 2017, a decline of 33%. Following this, the value rose sharply to Rs 4,500 per sq.ft in 2023, and further increased to Rs 4,900 per sq.ft in 2024, reflecting a growth of 9% from the previous year.

The guideline value register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 444%.

Guideline values in Chindadripet

In Chindadripet, there are 98 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,500 to Rs 18,100 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Palani Andavar Koil street's 2024 figure above this median.

• Palani Andavar Koil 1st/2nd/3rd street: Rs 4,400 per sq.ft (2024)
• Padavattamman West Street: Rs 2,500 per sq.ft (2024)
• Padavattamman south Street: Rs 2,500 per sq.ft (2024)
• Padavattamman lane: Rs 3,300 per sq.ft (2024)
• Padavattamman Koil street: Rs 3,300 per sq.ft (2024)
• Padavatamman Kovil 1st lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Palani Andavar Koil street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total cost for these fees to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Palani Andavar Koil street?

The Sub Registrar Office that covers Palani Andavar Koil street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for further assistance.

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

When buying or selling property in Chindadripet, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is set by the government and is used as a benchmark for calculating these fees during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of property transactions. This ensures that all parties are informed of the financial implications involved in the buying or selling process.

Frequently asked questions

What is the current guideline value of Palani Andavar Koil street?

The current guideline value of Palani Andavar Koil street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 444% over the years.

What is the classification of land on Palani Andavar Koil street?

Palani Andavar Koil street is classified as Residential Class I Type - I.

Where can I find the registration office for Palani Andavar Koil street?

The registration office for Palani Andavar Koil street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a stamp duty of Rs 3,43,000.