Guideline Value for Palankottai street

Palankottai street guideline value

The current guideline value of Palankottai street is Rs 3,250 per sq.ft, effective from 1 July 2024. This street is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Palankottai street has changed

The guideline value for Palankottai street has undergone several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this figure dropped to Rs 2,010 per sq.ft in 2017. Following that, the value rose sharply to Rs 3,000 per sq.ft in 2023, and further increased to Rs 3,250 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2007 to 2024, the overall change in guideline value is an increase of 713%. The revisions for the years 2002 and 2003 have no figures listed for this street in the register.

Guideline values in Poonthamallee

In Poonthamallee, there are 257 streets under the Poonamallee SRO, with guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Palankottai street's 2024 figure above this median.

• Palani nagar: Rs 2,200 per sq.ft (2024)
• Pali Mohandoss Street: Rs 2,200 per sq.ft (2024)
• Palli street: Rs 2,200 per sq.ft (2024)
• Pandara street: Rs 2,200 per sq.ft (2024)
• Panisuvarar street: Rs 4,950 per sq.ft (2024)
• Paniyatham nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Palankottai street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,250 per sq.ft, the total guideline value amounts to Rs 32,50,000. The stamp duty at 7% would be Rs 2,27,500, and the registration fee at 2% would be Rs 65,000, bringing the total fees together to Rs 2,92,500. 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 precise calculations based on your property transaction.

Which Sub Registrar Office covers Palankottai street?

The Sub Registrar Office covering Palankottai street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Poonthamallee. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure they are compliant with the legal requirements during the registration process.

When a property is sold, the guideline value is considered the minimum value for calculating taxes and fees. Therefore, it is essential for both parties to understand the guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Palankottai street?

The current guideline value of Palankottai street is Rs 3,250 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 3,250 per sq.ft in 2024, marking an overall increase of 713% over the years.

What is the land classification for Palankottai street?

Palankottai street is classified as Commercial Class I Type - II.

What are the stamp duty and registration fees for property in Palankottai street?

For a 1,000 sq.ft property, the total guideline value is Rs 32,50,000. The stamp duty would be Rs 2,27,500, and the registration fee would be Rs 65,000, totaling Rs 2,92,500.

Which office handles registrations for Palankottai street?

The Poonamallee Sub Registrar Office handles registrations for Palankottai street, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.