Guideline Value for Palaniappa Nagar 4th Street

Palaniappa Nagar 4th Street guideline value

The current guideline value of Palaniappa Nagar 4th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Gowrivakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Palaniappa Nagar 4th Street has changed

The guideline value for Palaniappa Nagar 4th Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, which is a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 Street.

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

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. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Palaniappa Nagar 4th Street?

The Sub Registrar Office that covers Palaniappa Nagar 4th Street 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 during the registration process of property transactions in Gowrivakkam. 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, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of this value to avoid overpaying and for sellers to set realistic expectations based on the official rates.

Frequently asked questions

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

The current guideline value of Palaniappa Nagar 4th Street 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 increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Palaniappa Nagar 4th Street?

Palaniappa Nagar 4th Street is classified as Residential Special Type - I.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is charged on the guideline value.