Guideline Value for Palaniandavar Kovil Street

Palaniandavar Kovil Street guideline value

The current guideline value of Palaniandavar Kovil Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Konnur village, under the Konnur SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Palaniandavar Kovil Street has changed

The guideline value for Palaniandavar Kovil Street has seen significant changes over the years. The register shows that in 2002, the value was Rs 390 per sq.ft, which increased to Rs 423 per sq.ft in 2003. Following this, the value rose sharply to Rs 800 per sq.ft in 2007, marking an increase of 89%. The value then experienced a substantial jump to Rs 6,500 per sq.ft in 2012, representing a 713% increase. However, it dropped to Rs 4,355 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 6,500 per sq.ft in 2023, and finally reached the current rate of Rs 7,100 per sq.ft in 2024, showing a change of 9% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,721%. The register has no figures for the years between 2012 and 2017, and for 2023 to 2024, the increase was 9%.

Guideline values in Konnur

Konnur village has a total of 249 streets under the Konnur SRO, with guideline values for 2024 ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, placing Palaniandavar Kovil Street's 2024 figure above this median.

• Padmanaban Street: Rs 5,500 per sq.ft (2024)
• Palliamman Kovil Street: Rs 5,500 per sq.ft (2024)
• North Redhills Road: Rs 5,500 per sq.ft (2024)
• North Madaveethi: Rs 5,500 per sq.ft (2024)
• North Jaganatha Nagar Third Prathna Salai: Rs 5,500 per sq.ft (2024)
• North Jaganatha Nagar Second Prathna Salai: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Palaniandavar Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, making the total cost for these charges Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Palaniandavar Kovil Street?

The Sub Registrar Office that covers Palaniandavar Kovil Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai, in the Chennai registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Konnur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value helps establish the baseline for the transaction. Buyers and sellers must consider this value to understand the financial implications of their property dealings, including the associated costs for registration and stamp duty.

Frequently asked questions

What is the current guideline value of Palaniandavar Kovil Street?

The current guideline value of Palaniandavar Kovil Street is Rs 7,100 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 390 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, which represents an overall increase of 1,721% over this period.

What is the median guideline value for streets in Konnur?

The median guideline value for the 249 streets in Konnur is Rs 3,800 per sq.ft, with Palaniandavar Kovil Street's 2024 figure being above this median.

What are the stamp duty and registration fees for properties in Palaniandavar Kovil Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 4,97,000, and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Which Sub Registrar Office covers Palaniandavar Kovil Street?

The Konnur Sub Registrar Office covers Palaniandavar Kovil Street, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.