Guideline Value for Palani Street Divyadas Nagar

Palani Street Divyadas Nagar guideline value

The current guideline value for Palani Street Divyadas Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village and falls under the Pammal SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Palani Street Divyadas Nagar has changed

The guideline value for Palani Street Divyadas Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2023 revision. The most recent revision in 2024 has raised the guideline value to Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 49%, indicating significant growth during that period.

Guideline values in Pozhichalur

Within Pozhichalur village, there are 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, positioning Palani Street Divyadas Nagar's current value below the median.

• Palani Street: Rs 1,100 per sq.ft (2024)
• Padmanabha Street: Rs 1,320 per sq.ft (2024)
• Padmanabhan Nagar Sampanthanar Street: Rs 1,650 per sq.ft (2024)
• Padmanaban Nagar Jagirusan Street: Rs 1,650 per sq.ft (2024)
• Padmanaban Nagar Amman Koil Street: Rs 1,650 per sq.ft (2024)
• Patel Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Palani Street Divyadas Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would amount to Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Palani Street Divyadas Nagar?

The Sub Registrar Office that covers Palani Street Divyadas Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for further assistance.

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

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

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures transparency and fairness in property transactions within the area.

Frequently asked questions

What is the current guideline value of Palani Street Divyadas Nagar?

The current guideline value of Palani Street Divyadas Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 670 per sq.ft to Rs 1,100 per sq.ft in 2024, marking an overall increase of 64%.

What is the registration fee for properties in Palani Street Divyadas Nagar?

The registration fee is calculated at 2% of the guideline value or sale price, whichever is higher. For a property valued at Rs 11,00,000, the registration fee would be Rs 22,000.

Where is the Sub Registrar Office for Palani Street Divyadas Nagar located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is the stamp duty calculated in Pozhichalur?

Stamp duty in Pozhichalur is charged at 7% of the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions.