Guideline Value for Palaniappa Nagar 4th Cross Road

Palaniappa Nagar 4th Cross Road guideline value

The current guideline value of Palaniappa Nagar 4th Cross Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Gowrivakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Palaniappa Nagar 4th Cross Road has changed

Over the years, the guideline value of Palaniappa Nagar 4th Cross Road has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 1,340 per sq.ft. The value remained at Rs 2,000 per sq.ft until the 2023 revision, which increased it to Rs 2,000 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 840 to Rs 3,750 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the guideline value of Palaniappa Nagar 4th Cross Road.

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

Stamp duty and registration fee for property in Palaniappa Nagar 4th 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, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Palaniappa Nagar 4th Cross Road?

The Sub Registrar Office that covers Palaniappa Nagar 4th 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 plays a crucial role during the registration of property transactions in Gowrivakkam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in determining the legal value of the property. It is essential for both buyers and sellers to be aware of the current guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Palaniappa Nagar 4th Cross Road?

The current guideline value of Palaniappa Nagar 4th 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 2023 to Rs 2,200 per sq.ft in 2024, a 10% increase. It was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012, showing various increases and a decrease over the years.

What is the land classification for Palaniappa Nagar 4th Cross Road?

The land classification for Palaniappa Nagar 4th Cross Road is Residential Special Type - I. This classification is important for understanding the zoning and permissible uses of the land.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Palaniappa Nagar 4th Cross Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.