Guideline Value for Palani Street / Anna Nagar

Palani Street / Anna Nagar guideline value

The current guideline value for Palani Street / Anna Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Palani Street / Anna Nagar has changed

The guideline value for Palani Street / Anna Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 228 per sq.ft, which increased to Rs 258 per sq.ft in 2003, marking a 13% rise. By 2007, the value rose to Rs 360 per sq.ft, reflecting a 40% increase from the previous revision. The 2017 revision set the value at Rs 1,675 per sq.ft, which was a substantial 365% increase from 2007.

The most recent revision in 2024 brought the guideline value to Rs 2,750 per sq.ft, representing a 64% increase from the 2017 figure. Overall, from 2002 to 2024, the guideline value has increased by 1,106%.

Guideline values in Pammal

In Pammal village, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, positioning Palani Street / Anna Nagar above this median.

• Palaniappan Street / Ganapathy Nagar: Rs 1,760 per sq.ft (2024)
• Palaniappan Street / Anna Nagar: Rs 2,750 per sq.ft (2024)
• Pallavan Street/ Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Pallavan Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Pammal, Cross Street: Rs 1,980 per sq.ft (2024)
• Pammal Kundrathur Salai: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Palani Street / Anna Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. 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 Street / Anna Nagar?

The Sub Registrar Office that covers Palani Street / Anna Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Pammal. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees. This ensures that the fees are based on a standardized valuation rather than fluctuating market prices.

At the time of registration, the buyer must pay the stamp duty and registration fees based on the higher of the guideline value or the sale price. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value for Palani Street / Anna Nagar?

The current guideline value for Palani Street / Anna Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 228 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, representing an overall increase of 1,106%.

What is the classification of Palani Street / Anna Nagar?

Palani Street / Anna Nagar is classified as Commercial Class I Type - II under the Pammal SRO.

What are the other streets in Pammal and their guideline values?

Other streets in Pammal include Palaniappan Street / Ganapathy Nagar at Rs 1,760 per sq.ft, Pallavan Street/ Muthamzhi Nagar at Rs 2,475 per sq.ft, and Pammal Kundrathur Salai at Rs 3,300 per sq.ft, among others.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more information by visiting the appropriate link.