Guideline Value for Palani andavar Kovil Street

Palani andavar Kovil Street guideline value

The current guideline value of Palani andavar Kovil Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village, under the Ambattur SRO, and is classified as Residential Special Type - I.

How the guideline value of Palani andavar Kovil Street has changed

The guideline value for Palani andavar Kovil Street has undergone several revisions over the years. In 2002, the value was Rs 145 per sq.ft, which increased to Rs 156 per sq.ft in 2003. Following this, there was a significant rise to Rs 600 per sq.ft in 2007. The value then saw a dramatic increase to Rs 2,200 per sq.ft in 2012. However, it decreased to Rs 1,474 per sq.ft in 2017. The guideline value then rose to Rs 2,200 per sq.ft in 2023 before reaching the current value of Rs 2,400 per sq.ft in 2024.

From 2017 to 2023, the value increased by 49%, while the jump from 2023 to 2024 was 9%. The earlier revisions saw more substantial changes, with the value increasing by 267% from 2007 to 2012 and by 285% from 2003 to 2007. Overall, from 2002 to 2024, the guideline value has increased by 1555%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median of Rs 2,200 per sq.ft. The guideline value of Palani andavar Kovil Street is above this median.

• Palaniappa 3rd Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Palaniyappa Nagar: Rs 2,200 per sq.ft (2024)
• Palaniyappa Nagar(10th Avenue): Rs 2,200 per sq.ft (2024)
• Palaniyappa Nagar(11th Avenue): Rs 2,200 per sq.ft (2024)
• Palaniyappa Nagar(12th Avenue): Rs 2,200 per sq.ft (2024)
• Palaniyappa Nagar(13th Avenue): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Palani andavar Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, making the total cost for these fees Rs 2,16,000. The duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Palani andavar Kovil Street?

The Sub Registrar Office that covers Palani andavar Kovil Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Oragadam. It serves as the benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is recorded at a value that reflects the current market conditions as determined by the state authorities.

When a property is sold, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This means that understanding the guideline value is essential for both buyers and sellers to ensure compliance with legal requirements during the property transaction.

Frequently asked questions

What is the current guideline value of Palani andavar Kovil Street?

The current guideline value of Palani andavar Kovil Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 145 per sq.ft in 2002 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of 1555% over the years.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Tamil Nadu is typically 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Which office handles property registrations in Oragadam?

The Ambattur Sub Registrar Office handles property registrations in Oragadam. It is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the median guideline value for streets in Oragadam?

The median guideline value for streets in Oragadam is Rs 2,200 per sq.ft, with Palani andavar Kovil Street's current value being above this median.