Guideline Value for Palaniappan Street

Palaniappan Street guideline value

The current guideline value of Palaniappan Street is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Palaniappan Street has changed

The guideline value for Palaniappan Street has undergone several revisions over the years. In 2007, the value was Rs 1,210 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in 2012. However, this figure saw a decrease to Rs 2,512 per sq.ft in 2017. The most recent revision in 2024 has set the guideline value at Rs 4,100 per sq.ft, marking a 63% increase from the 2017 figure.

Looking at the overall changes, from 2007 to 2024, the guideline value has increased by 239%. The register does not have figures for the years 2023, 2003, and 2002 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, indicating that Palaniappan Street's 2024 figure is below the median.

• Palaniappa Street(Meenakshi Nagar): Rs 5,500 per sq.ft (2024)
• Palai Street: Rs 3,300 per sq.ft (2024)
• Palayakkara Cross Street: Rs 6,600 per sq.ft (2024)
• Palayakkaran Lane: Rs 5,500 per sq.ft (2024)
• Palayakkaran Street: Rs 6,600 per sq.ft (2024)
• Pallavan Salai (Street): Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Palaniappan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total amount to Rs 3,69,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Palaniappan Street?

The Sub Registrar Office that covers Palaniappan Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared against the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Palaniappan Street?

The current guideline value of Palaniappan Street is Rs 4,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2007?

Since 2007, the guideline value has increased by 239%, rising from Rs 1,210 per sq.ft to Rs 4,100 per sq.ft in 2024.

What was the guideline value in 2017?

The guideline value of Palaniappan Street in 2017 was Rs 2,512 per sq.ft.

Are there any years with no guideline value for this street?

Yes, the register does not have figures for the years 2023, 2003, and 2002 for Palaniappan Street.

Where is the Sub Registrar Office for Palaniappan Street located?

The Sub Registrar Office for Palaniappan Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.