Guideline Value for Palaniyappa Nagar

Palaniyappa Nagar guideline value

The current guideline value of Palaniyappa Nagar, located in Oragadam village under the Ambattur SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Palaniyappa Nagar has changed

The guideline value of Palaniyappa Nagar has undergone several revisions over the years. In 2007, the value was Rs 747 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 168%. However, the value then decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The most recent revisions show that the value rose to Rs 2,000 per sq.ft in 2023, and further increased to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

Notably, the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 195%, demonstrating significant changes in the valuation over the years.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO, with guideline values ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current value for Palaniyappa Nagar.

• Palaniyappa Nagar(10th Avenue): Rs 2,200 per sq.ft (2024)
• Palaniyappa Nagar(11th Avenue): Rs 2,200 per sq.ft (2024)
• Palaniyappa Nagar(12th Avenue): Rs 2,200 per sq.ft (2024)
• Palaniyappa Nagar(13th Avenue): Rs 2,200 per sq.ft (2024)
• Palaniyappa Nagar(14th Avenue): Rs 2,200 per sq.ft (2024)
• Palaniyappa Nagar(1st Avenue): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Palaniyappa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Palaniyappa Nagar?

The Sub Registrar Office that covers Palaniyappa Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

When buying or selling property in Oragadam, the guideline value serves as a benchmark for determining the stamp duty and registration fees. This value is crucial during the registration process, as it ensures that the appropriate fees are calculated based on the property's valuation.

It is essential for buyers and sellers to be aware of the guideline value, as it may influence negotiations and the final sale price. The registration process requires adherence to these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Palaniyappa Nagar?

The current guideline value of Palaniyappa Nagar 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 seen several changes, increasing from Rs 747 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 195%.

What are the stamp duty and registration fees for property in Palaniyappa Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000, resulting in a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Palaniyappa Nagar?

The Ambattur Sub Registrar Office handles registrations for Palaniyappa Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Palaniyappa Nagar?

Palaniyappa Nagar is classified as Residential Special Type - II, indicating its intended use for residential purposes.