Guideline Value for Palani Andavar Street

Palani Andavar Street guideline value

The current guideline value of Palani Andavar Street is Rs 2,160 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - I.

How the guideline value of Palani Andavar Street has changed

The guideline value for Palani Andavar Street has undergone several revisions over the years. In 2003, the guideline value was Rs 486 per sq.ft, which increased to Rs 800 per sq.ft in 2007, marking a 65% rise. The value then saw a significant jump to Rs 2,000 per sq.ft in 2012, reflecting a 150% increase. However, it dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 2,160 per sq.ft, representing a 61% increase from the 2017 figure.

It is important to note that there are no figures available for the years 2023 and 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 344%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Palani Andavar Street's 2024 guideline value below that median.

• PALIMAR Nagar: Rs 2,160 per sq.ft (2024)
• Pallava Garden: Rs 3,300 per sq.ft (2024)
• Pallavan Colony: Rs 2,160 per sq.ft (2024)
• Padmavathy Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Panchayat Colony Road: Rs 2,750 per sq.ft (2024)
• Panchayat Market Colony Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Palani Andavar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, making the total charges Rs 1,94,400. It is important to note that 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 Palani Andavar Street?

The Sub Registrar Office that covers Palani Andavar Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Palani Andavar Street?

The current guideline value of Palani Andavar Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 486 per sq.ft to Rs 2,160 per sq.ft in 2024, representing an overall increase of 344%.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property, the total charges would be Rs 1,94,400.

Which Sub Registrar Office covers Palani Andavar Street?

The Pallavaram Sub Registrar Office covers Palani Andavar Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Palani Andavar Street?

The land classification for Palani Andavar Street is Residential Class III Type - I.