Guideline Value for Palaniappa Chetty 2nd Lane

Palaniappa Chetty 2nd Lane guideline value

The current guideline value of Palaniappa Chetty 2nd Lane is Rs 4,900 per sq.ft. This street is located in Ayanavaram village, under the AnnaNagar Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - III.

How the guideline value of Palaniappa Chetty 2nd Lane has changed

Over the years, the guideline value for Palaniappa Chetty 2nd Lane has seen significant changes. In 2007, the guideline value was Rs 1,200 per sq.ft, which increased to Rs 4,500 per sq.ft in 2012. However, it then decreased to Rs 3,015 per sq.ft in 2017. The 2023 revision set the value at Rs 4,500 per sq.ft, and the most recent 2024 revision has increased it to Rs 4,900 per sq.ft. The register has no figure for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%, while the 2023 to 2024 revision saw a rise of 9%. The overall change from 2007 to 2024 is an increase of 308%. The fluctuations in value reflect various factors affecting the real estate landscape in the region.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for the area is Rs 4,900 per sq.ft, which is equal to the current guideline value for Palaniappa Chetty 2nd Lane.

• Palaniappa Chetty Ist Street: Rs 4,900 per sq.ft (2024)
• Palaniappa Chetty Street: Rs 4,900 per sq.ft (2024)
• Palani Andavar Koil Street: Rs 4,900 per sq.ft (2024)
• Palani Andavar Koil Ist Lane: Rs 4,900 per sq.ft (2024)
• Palani Andavar Koil 2nd Lane: Rs 4,900 per sq.ft (2024)
• palavoyal Road: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Palaniappa Chetty 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, while the registration fee at 2% would be Rs 98,000. Together, the total cost for these fees would be Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Palaniappa Chetty 2nd Lane?

The Sub Registrar Office that covers Palaniappa Chetty 2nd Lane is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Ayanavaram. It is used to determine the minimum value at which a property can be registered. This ensures that the government receives appropriate revenue through stamp duty and registration fees based on the property’s guideline value.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value for Palaniappa Chetty 2nd Lane?

The current guideline value for Palaniappa Chetty 2nd Lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 308% over the years.

What are the stamp duty and registration fees for a property in Palaniappa Chetty 2nd Lane?

For a 1,000 sq.ft plot, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which Sub Registrar Office covers this area?

The AnnaNagar Sub Registrar Office covers Palaniappa Chetty 2nd Lane, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Ayanavaram?

The median guideline value in Ayanavaram is Rs 4,900 per sq.ft, which is the same as the current guideline value for Palaniappa Chetty 2nd Lane.