Guideline Value for Palaniandavar Koil Street

Palaniandavar Koil Street guideline value

The current guideline value of Palaniandavar Koil Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam SRO, and is classified as Residential Special Type - III.

How the guideline value of Palaniandavar Koil Street has changed

The guideline value for Palaniandavar Koil Street has seen several revisions over the years. In 2002, the value was Rs 945 per sq.ft, which increased to Rs 1,032 per sq.ft in 2003. This was followed by a significant rise to Rs 1,800 per sq.ft in 2007, and then to Rs 5,000 per sq.ft in 2012. However, the value dropped to Rs 3,350 per sq.ft in 2017, before climbing back to Rs 5,000 per sq.ft in 2023, and finally reaching Rs 5,500 per sq.ft in 2024. The revisions demonstrate a notable increase overall, with the guideline value rising by 482% from 2002 to 2024.

Specifically, the changes between the revisions include an increase of 9% from 2002 to 2003, a rise of 74% from 2003 to 2007, an increase of 178% from 2007 to 2012, a decrease of 33% from 2012 to 2017, and a significant increase of 49% from 2017 to 2023. The jump from 2023 to 2024 is 10%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that carry 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 Street's 2024 figure above this median.

• Palaniandavar Koil Sannadi 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 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 amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost for these fees to Rs 4,95,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Palaniandavar Koil Street?

The Virugambakkam Sub Registrar Office covers Palaniandavar Koil Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Saligramam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to assess the applicable fees, ensuring that the transaction is compliant with local regulations. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Palaniandavar Koil Street?

The current guideline value of Palaniandavar Koil 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 significantly from Rs 945 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 482% 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 total stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office handles the registration for Palaniandavar Koil Street?

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

What is the land classification for Palaniandavar Koil Street?

Palaniandavar Koil Street is classified as Residential Special Type - III, which influences its guideline value and usage regulations.