Guideline Value for Palaru Street

Palaru Street guideline value

The current guideline value of Palaru Street, located in Adambakkam village, falls under the Alandur SRO and is classified as Residential Class I Type - III. As of the 2024 revision, the guideline value is Rs 3,900 per sq.ft, effective from 1 July 2024.

How the guideline value of Palaru Street has changed

The guideline value for Palaru Street has seen several revisions over the years. In 2002, the guideline value was Rs 282 per sq.ft, which increased to Rs 322 per sq.ft in 2003, marking a 14% rise. The value then rose significantly to Rs 900 per sq.ft in 2007, showing a remarkable increase of 180%. Following this, the value jumped to Rs 3,500 per sq.ft in 2012, reflecting a 289% increase. However, it decreased to Rs 2,345 per sq.ft in 2017, a decline of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, before reaching the current value of Rs 3,900 per sq.ft in 2024, which is an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1283%. There are no years in the register with no figure for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO carrying a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which aligns with the 2024 guideline value for Palaru Street.

• Palaru Street (Bharathi Nagar): Rs 3,900 per sq.ft (2024)
• Palayathamman Street/Palayathan Street: Rs 3,900 per sq.ft (2024)
• Palli Lane: Rs 3,900 per sq.ft (2024)
• Padel Street: Rs 3,900 per sq.ft (2024)
• Pachiamman Koil Street: Rs 3,900 per sq.ft (2024)
• Parameshwara Nagar 1st Lane: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Palaru Street

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would total Rs 78,000. Together, these fees amount to Rs 3,51,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Palaru Street?

The Sub Registrar Office that covers Palaru Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Adambakkam. It serves as a reference point for determining the minimum value at which property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buyers and sellers engage in a property transaction, the guideline value is used to calculate the stamp duty and registration fees. This ensures that all parties are aware of the financial obligations associated with the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Palaru Street?

The current guideline value of Palaru Street is Rs 3,900 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 282 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, showing an overall increase of 1283% over this period.

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

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

Where is the Sub Registrar Office for Palaru Street located?

The Sub Registrar Office for Palaru Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What other streets in Adambakkam have the same guideline value?

Other streets in Adambakkam with the same guideline value of Rs 3,900 per sq.ft include Palaru Street (Bharathi Nagar), Palayathamman Street/Palayathan Street, Palli Lane, Padel Street, and Pachiamman Koil Street.