Guideline Value for Palani Street (Periya Sekkadu)

Palani Street (Periya Sekkadu) guideline value

The current guideline value of Palani Street (Periya Sekkadu) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Palani Street (Periya Sekkadu) has changed

The guideline value for Palani Street (Periya Sekkadu) has seen a change from Rs 1,500 per sq.ft in the 2023 revision to Rs 1,600 per sq.ft in the 2024 revision, marking an increase of 7%. Prior to the 2023 revision, the register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017.

In summary, the only revisions with figures for Palani Street (Periya Sekkadu) are from 2023 and 2024, where the guideline value increased from Rs 1,500 to Rs 1,600 per sq.ft. The absence of figures in earlier years indicates that there were no recorded changes to the guideline value for this street during those periods.

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which is equal to the current guideline value of Palani Street (Periya Sekkadu).

• Palani Street (Periyasekkadu) (Ward-01): Rs 1,600 per sq.ft (2024)
• Palanisamy Street (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Palaniappa Nagar (Ward-18): Rs 2,200 per sq.ft (2024)
• Palaniappa Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Palaniappa Nagar 5th st (Ward No.18): Rs 2,200 per sq.ft (2024)
• Palaniappa Nagar 4th st (Ward No.18): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Palani Street (Periya Sekkadu)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total cost for these fees Rs 1,44,000. 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 Street (Periya Sekkadu)?

The Sub Registrar Office that covers Palani Street (Periya Sekkadu) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it can influence the overall costs associated with the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, which can significantly impact the total expenditure.

Frequently asked questions

What is the current guideline value of Palani Street (Periya Sekkadu)?

The current guideline value of Palani Street (Periya Sekkadu) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024, reflecting a 7% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Palani Street (Periya Sekkadu)?

Palani Street (Periya Sekkadu) is classified as Residential Class II Type - I, which indicates its suitability for residential development.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles all registration-related activities for properties in the area.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For example, a plot of 1,000 sq.ft at Rs 1,600 per sq.ft would incur a total of Rs 1,44,000 in fees.