Guideline Value for Palaniappa Nagar 3rd Cross Road

Palaniappa Nagar 3rd Cross Road guideline value

The current guideline value of Palaniappa Nagar 3rd Cross Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Gowrivakkam village under the Selaiyur SRO, classified as Residential Special Type - I.

How the guideline value of Palaniappa Nagar 3rd Cross Road has changed

Over the years, the guideline value for Palaniappa Nagar 3rd Cross Road has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and most recently, it has been revised to Rs 2,200 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007.

From the 2012 to 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from the 2012 revision to the 2024 revision shows an increase of 10%.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 840 to Rs 3,750 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the 2024 guideline value for Palaniappa Nagar 3rd Cross Road.

• Palaniappa Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Palaniappa Nagar 3rd Main Road: Rs 2,200 per sq.ft (2024)
• Palaniappa Nagar 2nd Main Road: Rs 2,200 per sq.ft (2024)
• Palaniappa Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Palaniappa Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Palaniappa Nagar 4th Cross Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Palaniappa Nagar 3rd Cross Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 Nagar 3rd Cross Road?

The Sub Registrar Office that covers Palaniappa Nagar 3rd Cross Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Gowrivakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property sales.

When a buyer or seller engages in a property transaction, the guideline value helps in establishing a fair basis for the sale price. It is essential to be aware of the current guideline value to ensure compliance with legal requirements during registration.

Frequently asked questions

What is the current guideline value of Palaniappa Nagar 3rd Cross Road?

The current guideline value of Palaniappa Nagar 3rd Cross Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers this area?

The Selaiyur Sub Registrar Office covers Palaniappa Nagar 3rd Cross Road, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

How is the guideline value determined?

The guideline value is determined based on various factors, including land classification and the historical revisions of property values in the area, as maintained by the Registration Department's guideline value register.