Guideline Value for Palar Street

Palar Street guideline value

The current guideline value of Palar Street in Irumpuliyur village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - II.

How the guideline value of Palar Street has changed

Over the years, the guideline value of Palar Street has undergone several revisions. The 2007 revision recorded a value of Rs 600 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 233% rise. However, from 2012 to 2017, the value decreased by 33% to Rs 1,340 per sq.ft. The value then rose to Rs 2,000 per sq.ft in 2023, before reaching the current rate of Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, there was a substantial increase of 49% in the guideline value. Overall, from 2007 to 2024, the guideline value has increased by 267%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, which matches the current guideline value of Palar Street.

• Pallikuda Street: Rs 2,530 per sq.ft (2024)
• Parali Nellaiappar Street: Rs 2,530 per sq.ft (2024)
• O.U.Saminatha Street: Rs 3,850 per sq.ft (2024)
• Old M.S.P.Lane: Rs 2,530 per sq.ft (2024)
• Old G.S.T. Street: Rs 6,600 per sq.ft (2024)
• Periyar Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Palar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to 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 duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Palar Street?

The Sub Registrar Office that covers Palar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Irumpuliyur. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are recorded accurately and transparently, reflecting the established values in the region.

Frequently asked questions

What is the current guideline value of Palar Street?

The current guideline value of Palar Street 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 changed from Rs 600 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, an overall increase of 267% over the years.

What is the stamp duty rate for properties in Palar Street?

The stamp duty rate for properties in Palar Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located for Palar Street?

The Sub Registrar Office for Palar Street is located at No.26, mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

What is the land classification for Palar Street?

Palar Street is classified as Residential Special Type - II, which indicates its designated use for residential purposes.