Guideline Value for Palani Street

Palani Street guideline value

The current guideline value of Palani Street in Kodungaiyur village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Madhavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Palani Street has changed

In the 2012 revision, the guideline value for Palani Street was Rs 2,000 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 2,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,200 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. It is important to note that for the years 2002, 2003, 2007, and 2017, the register has no figure for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, making the 2024 figure for Palani Street below the median.

• Padmavathy Street: Rs 2,200 per sq.ft (2024)
• Padmavathi Street (Krishanmoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Palpannai Salai: Rs 3,301 per sq.ft (2024)
• Om Sakthi Vinayagar Koil Street: Rs 2,700 per sq.ft (2024)
• Park Street: Rs 2,200 per sq.ft (2024)
• N.V. Natrajan Street: Rs 2,200 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Please 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?

The Sub Registrar Office covering Palani Street 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 Kodungaiyur

The guideline value is an important factor when registering property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold, the guideline value is used to calculate the necessary fees, ensuring that both buyers and sellers are aware of the financial implications of their transactions. This process helps maintain transparency in real estate dealings within the region.

Frequently asked questions

What is the current guideline value of Palani Street?

The current guideline value of Palani Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Palani Street increased from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024. The value remained unchanged at Rs 2,000 per sq.ft from 2012 to 2023.

What is the registration office for Palani Street?

The registration office for Palani Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Kodungaiyur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.

What is the median guideline value in Kodungaiyur?

The median guideline value in Kodungaiyur is Rs 2,700 per sq.ft, with Palani Street's 2024 figure being below this median.