Guideline Value for Palani Street (Periyasekkadu) (Ward-01)

Palani Street (Periyasekkadu) (Ward-01) guideline value

The current guideline value of Palani Street (Periyasekkadu) (Ward-01) 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 (Periyasekkadu) (Ward-01) has changed

In the 2023 revision, the guideline value was Rs 1,500 per sq.ft. This represents a 7% increase to the current value of Rs 1,600 per sq.ft in the 2024 revision. The register has no figure for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Thus, the only revisions available for Palani Street (Periyasekkadu) (Ward-01) are from 2023 and 2024, showing a clear upward adjustment in the guideline value over this period.

Guideline values in Madhavaram

In Madhavaram, 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 value for these streets is Rs 1,600 per sq.ft, which is the same as the guideline value for Palani Street (Periyasekkadu) (Ward-01).

• Palani Street (Periya Sekkadu): 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 (Periyasekkadu) (Ward-01)

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the 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, totaling Rs 1,44,000. 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 information.

Which Sub Registrar Office covers Palani Street (Periyasekkadu) (Ward-01)?

The Sub Registrar Office that covers Palani Street (Periyasekkadu) (Ward-01) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial reference for property transactions in Madhavaram. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold.

When registering a property, the guideline value serves as a benchmark for calculating the fees involved. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, ensuring that the correct amount is paid during the registration process.

Frequently asked questions

What is the current guideline value for Palani Street (Periyasekkadu)?

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

How much did the guideline value increase from 2023 to 2024?

The guideline value increased by 7% from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024.

What is the land classification for Palani Street (Periyasekkadu)?

Palani Street (Periyasekkadu) is classified as Residential Class II Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at a rate of 7%.