Guideline Value for Palaniandavar Koil Sannadi Street

Palaniandavar Koil Sannadi Street guideline value

The current guideline value of Palaniandavar Koil Sannadi Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Palaniandavar Koil Sannadi Street has changed

The guideline value for Palaniandavar Koil Sannadi Street has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 1,235 per sq.ft. This value increased to Rs 1,349 per sq.ft in 2003, marking a 9% rise. In 2007, the value jumped significantly to Rs 1,800 per sq.ft, an increase of 33%. The 2012 revision saw a decrease to Rs 5,000 per sq.ft, a drop of 33%. However, in 2017, the value rose to Rs 3,350 per sq.ft, reflecting a 49% increase. The 2023 revision set the value at Rs 5,000 per sq.ft, and the latest revision in 2024 has increased it to Rs 5,500 per sq.ft, a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 345%. There are no figures available for any revisions prior to 2002 or after 2024 for this street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that have a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Palaniandavar Koil Sannadi Street above this median with its current value of Rs 5,500 per sq.ft.

• Palaniandavar Koil Street: Rs 5,500 per sq.ft (2024)
• Panchayat Road: Rs 2,750 per sq.ft (2024)
• Pandara Street: Rs 3,300 per sq.ft (2024)
• Pari Street: Rs 3,300 per sq.ft (2024)
• N.S.K. Street: Rs 9,900 per sq.ft (2024)
• Parthasarathy Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Palaniandavar Koil Sannadi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. 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 Palaniandavar Koil Sannadi Street?

The Sub Registrar Office that covers Palaniandavar Koil Sannadi Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor in the registration process when buying or selling property in Saligramam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the relevant duties and fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Palaniandavar Koil Sannadi Street?

The current guideline value of Palaniandavar Koil Sannadi Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,235 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 345% over this period.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles property registrations for this area?

The Virugambakkam Sub Registrar Office handles property registrations for Palaniandavar Koil Sannadi Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Palaniandavar Koil Sannadi Street?

The land classification for Palaniandavar Koil Sannadi Street is Residential Special Type - III, indicating its designated use for residential purposes.