Guideline Value for Palaniappa Chetty Street

Palaniappa Chetty Street guideline value

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

How the guideline value of Palaniappa Chetty Street has changed

The guideline value of Palaniappa Chetty Street has seen 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 remarkable rise of 275%. However, from 2012 to 2017, the value decreased to Rs 3,015 per sq.ft, a drop of 33%. The value then rose again to Rs 4,500 per sq.ft in 2023, reflecting a substantial increase of 49% from the previous revision. The latest revision in 2024 set the guideline value at Rs 4,900 per sq.ft, an increase of 9% from 2023.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 308%.

Guideline values in Ayanavaram

In Ayanavaram, there are 369 streets under the AnnaNagar SRO that carry a 2024 guideline value 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 Street. Below are other streets in Ayanavaram with their respective guideline values:

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

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, 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Palaniappa Chetty Street?

The Sub Registrar Office that covers Palaniappa Chetty Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). To find your SRO, please visit the provided link.

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

The guideline value plays a crucial role in the registration process of property transactions in Ayanavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall costs involved in the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Palaniappa Chetty Street?

The current guideline value of Palaniappa Chetty 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, reflecting an overall increase of 308% over the years.

What is the registration office for Palaniappa Chetty Street?

The registration office for Palaniappa Chetty Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for property in Palaniappa Chetty Street?

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

What are the other streets in Ayanavaram with the same guideline value?

Several other streets in Ayanavaram also have a guideline value of Rs 4,900 per sq.ft in 2024, including Palaniappa Chetty Ist Street, Palaniappa Chetty 2nd Lane, and Palani Andavar Koil Street, among others.