Guideline Value for Palaru Street

Palaru Street guideline value

The current guideline value of Palaru Street in 5. Athipattu village under the Konnur SRO is Rs 2,400 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Palaru Street has changed

In the 2017 revision, the guideline value was Rs 1,474 per sq.ft. This figure increased to Rs 2,200 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,400 per sq.ft, reflecting an increase of 9% from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has risen by 63%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for Palaru Street in the register.

Guideline values in 5. Athipattu

Within 5. Athipattu village, there are 119 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 7,650 per sq.ft. The median guideline value for the village is Rs 2,200 per sq.ft, placing Palaru Street's 2024 figure above this median.

• Padasalai Street: Rs 1,300 per sq.ft (2024)
• N.S.K. Street(Chelliamman nagar): Rs 2,200 per sq.ft (2024)
• Periyar Nagar: Rs 1,100 per sq.ft (2024)
• New Century Colony: Rs 2,400 per sq.ft (2024)
• Nethaji street: Rs 1,300 per sq.ft (2024)
• Nehru Street 2Street(Chelliamman nagar): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Palaru Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total to Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Palaru Street?

The Sub Registrar Office that covers Palaru Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 5. Athipattu

The guideline value is a crucial factor in the registration process of property transactions in 5. Athipattu. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees payable at the time of registration.

When buying or selling property, it is essential to be aware of the guideline value as it impacts the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Palaru Street?

The current guideline value of Palaru Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,474 per sq.ft in 2017 to Rs 2,400 per sq.ft in 2024, marking an overall increase of 63% over this period.

What are the stamp duty and registration fees for property in Palaru Street?

For a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 and the registration fee would be Rs 48,000, totaling Rs 2,16,000.

Which office handles property registrations for Palaru Street?

The Konnur Sub Registrar Office handles property registrations for Palaru Street, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the median guideline value in 5. Athipattu?

The median guideline value in 5. Athipattu is Rs 2,200 per sq.ft, with Palaru Street's 2024 figure being above this median.