Guideline Value for Palaniappa Road

Palaniappa Road guideline value

The current guideline value of Palaniappa Road in Jampuli village, under the Madhavaram SRO, is Rs 3,000 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - II.

How the guideline value of Palaniappa Road has changed

The guideline value for Palaniappa Road has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 2,200 per sq.ft. This figure saw a decrease of 33% by the 2017 revision, which brought it down to Rs 1,474 per sq.ft. The subsequent revisions showed an increase, with the 2023 revision at Rs 2,200 per sq.ft, followed by a significant rise of 36% to reach the current value of Rs 3,000 per sq.ft in the 2024 revision.

There are no figures available for the revisions in 2002, 2003, and 2007 for Palaniappa Road. Overall, from 2012 to 2024, the guideline value has increased by 36%.

Guideline values in Jampuli

In Jampuli village, there are 118 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 3,300 per sq.ft, with a median value of Rs 2,450 per sq.ft. The guideline value of Palaniappa Road is above this median.

• Periyar Nagar: Rs 1,700 per sq.ft (2024)
• New Colony (30 Feet Road): Rs 1,900 per sq.ft (2024)
• Ponnusamy Nagar: Rs 1,700 per sq.ft (2024)
• M.R.L. Colony 3rd Street: Rs 2,200 per sq.ft (2024)
• M.R.L. Colony 2nd Street: Rs 2,200 per sq.ft (2024)
• M.R.L. Colony 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Palaniappa Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,000 per sq.ft, the total guideline value would be Rs 30,00,000. The stamp duty at 7% would amount to Rs 2,10,000, and the registration fee at 2% would be Rs 60,000, bringing the total to Rs 2,70,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Palaniappa Road?

The Sub Registrar Office that covers Palaniappa 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 Jampuli

The guideline value is an essential reference point when buying or selling property in Jampuli. It helps determine the stamp duty and registration fees applicable during the transaction, ensuring that both parties are aware of the financial obligations involved.

When registering a property, the guideline value serves as a basis for calculating the applicable duties and fees. It is crucial for buyers and sellers to be informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Palaniappa Road?

The current guideline value of Palaniappa Road is Rs 3,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then back to Rs 2,200 per sq.ft in 2023, and finally to Rs 3,000 per sq.ft in 2024.

What is the land classification for Palaniappa Road?

The land classification for Palaniappa Road is Residential Class I Type - II.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Palaniappa Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,10,000.