Guideline Value for Palaniappa Chetty Ist Street

Palaniappa Chetty Ist Street guideline value

The current guideline value for Palaniappa Chetty Ist Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village, under the AnnaNagar SRO, and is classified as Residential Class I Type - III.

How the guideline value of Palaniappa Chetty Ist Street has changed

The guideline value for Palaniappa Chetty Ist Street has undergone several revisions over the years. In 2007, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 275%. However, this value decreased to Rs 3,015 per sq.ft in 2017, a decline of 33%. The value then increased again to Rs 4,500 per sq.ft in 2023, before reaching the current figure of Rs 4,900 per sq.ft in 2024, reflecting a 9% increase.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 308%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with guideline values for 2024 ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, which is equal to the current value of Palaniappa Chetty Ist Street.

• Palaniappa Chetty 2nd Lane: 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 Ist Street

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

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

Which Sub Registrar Office covers Palaniappa Chetty Ist Street?

The Sub Registrar Office that covers Palaniappa Chetty Ist Street 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 information.

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

The guideline value is a crucial factor during property registration in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government collects appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the expected costs involved in the transaction. It is essential for buyers and sellers to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Palaniappa Chetty Ist Street?

The current guideline value of Palaniappa Chetty Ist Street 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, with various increases and decreases along the way, including a significant rise of 308% overall since 2007.

What is the land classification for Palaniappa Chetty Ist Street?

Palaniappa Chetty Ist Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where is the Sub Registrar Office located?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in Ayanavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 at 7%.