Guideline Value for Palaniappa Nagar Main Road

Palaniappa Nagar Main Road guideline value

The current guideline value of Palaniappa Nagar Main Road is Rs 2,700 per sq.ft as per the 2024 revision. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Special Type - I.

How the guideline value of Palaniappa Nagar Main Road has changed

The guideline value for Palaniappa Nagar Main Road has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, an increase of 8% from the 2023 revision, which was Rs 2,500 per sq.ft. Prior to that, in 2017, the guideline value was Rs 2,010 per sq.ft, reflecting a significant increase of 24% over the six-year period leading up to 2023.

It is important to note that there are no figures available for the years 2012, 2007, 2003, and 2002 for this street. Overall, from 2017 to 2024, the guideline value has increased by 34%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing the current value of Palaniappa Nagar Main Road above this median.

• Palaniappa Nagar 5th st ( Ward No.18): Rs 2,200 per sq.ft (2024)
• Palaniappa Nagar (Ward-18): Rs 2,200 per sq.ft (2024)
• Palaniappa Nagar 4th st ( Ward No.18): Rs 2,200 per sq.ft (2024)
• Palaniappa Nagar 3rd st ( Ward No.18): Rs 2,200 per sq.ft (2024)
• Palaniappa Nagar 2nd st ( Ward No.18): Rs 2,200 per sq.ft (2024)
• Palaniappa Nagar 1st St ( Ward No.18): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Palaniappa Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. 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 Main Road?

The Sub Registrar Office that covers Palaniappa Nagar Main Road is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is bought or sold, the guideline value is referenced to ensure that the correct fees are calculated based on the higher of the guideline value or the actual sale price. This ensures compliance with the legal requirements set forth by the registration authorities.

Frequently asked questions

What is the current guideline value of Palaniappa Nagar Main Road?

The current guideline value of Palaniappa Nagar Main Road is Rs 2,700 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,010 per sq.ft in 2017 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 34% over this period.

What is the land classification for Palaniappa Nagar Main Road?

Palaniappa Nagar Main Road is classified as Residential Special Type - I, indicating its designation for residential purposes.

What is the registration office for Palaniappa Nagar Main Road?

The registration office for Palaniappa Nagar Main Road is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Madhavaram?

Stamp duty for properties in Madhavaram is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty would be calculated at 7% of this amount.