Guideline Value for Palani Street

Palani Street guideline value

The current guideline value of Palani Street in Pozhichalur village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Pammal Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Palani Street has changed

The guideline value for Palani Street has seen 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 raised the guideline value to Rs 1,100 per sq.ft, marking a 10% increase from the previous year. Notably, from 2017 to 2023, the increase was 49%, and the overall change from 2017 to 2024 is 64%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for Palani Street.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, placing Palani Street's 2024 value below this median.

• Palani Street Divyadas Nagar: 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

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 amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Palani Street?

The Pammal Sub Registrar Office covers Palani Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Pozhichalur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall costs involved in the transaction. Buyers should ensure they are informed about the current guideline value to avoid any unexpected fees during the registration process.

Frequently asked questions

What is the current guideline value of Palani Street?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, representing a total increase of 64% over this period.

What are the other streets in Pozhichalur with their guideline values?

Other streets in Pozhichalur include Palani Street Divyadas Nagar at Rs 1,100 per sq.ft, Padmanabha Street at Rs 1,320 per sq.ft, and several others ranging up to Rs 1,650 per sq.ft.

What is the registration fee for property in Palani Street?

The registration fee for property in Palani Street is calculated based on the guideline value, with a rate of 2% applied. For example, a property valued at Rs 11,00,000 would incur a registration fee of Rs 22,000.

Where is the Pammal Sub Registrar Office located?

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