Guideline Value for Palaniappan Street / Ganapathy Nagar

Palaniappan Street / Ganapathy Nagar guideline value

The current guideline value of Palaniappan Street / Ganapathy Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class III Type - II.

How the guideline value of Palaniappan Street / Ganapathy Nagar has changed

The guideline value for Palaniappan Street / Ganapathy Nagar has seen significant changes over the years. In 2002, the value was Rs 161 per sq.ft, which increased to Rs 182 per sq.ft in 2003, marking a 13% rise. By 2007, the value jumped to Rs 260 per sq.ft, reflecting a 43% increase from the previous revision. The 2017 revision set the value at Rs 1,072 per sq.ft, a substantial 312% increase from 2007. The most recent revision in 2024 raised the value to Rs 1,760 per sq.ft, which is a 64% increase from 2017.

There are no figures available for the revisions in 2012 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by an impressive 993%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value in this area is Rs 2,090 per sq.ft, placing the current value of Palaniappan Street / Ganapathy Nagar below this median.

• Palaniappan Street / Anna Nagar: Rs 2,750 per sq.ft (2024)
• Palani Street / Anna Nagar: Rs 2,750 per sq.ft (2024)
• Pallavan Street/ Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Pallavan Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Pammal, Cross Street: Rs 1,980 per sq.ft (2024)
• Pammal Kundrathur Salai: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Palaniappan Street / Ganapathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total cost for stamp duty and registration fees to Rs 1,58,400. Please note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Palaniappan Street / Ganapathy Nagar?

The Sub Registrar Office that covers Palaniappan Street / Ganapathy Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted at fair values as per government regulations.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Palaniappan Street / Ganapathy Nagar?

The current guideline value of Palaniappan Street / Ganapathy Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 161 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, representing an overall increase of 993% over the years.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Which office handles registrations for Palaniappan Street / Ganapathy Nagar?

The Pammal Sub Registrar Office handles registrations for Palaniappan Street / Ganapathy Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value of a property, ensuring that transactions are conducted at fair values. It is also the basis for calculating stamp duty and registration fees during property transactions.