Guideline Value for Palathotta Salai

Palathotta Salai guideline value

The current guideline value of Palathotta Salai is Rs 250 per sq.ft, effective from 1 July 2024. This street is located in Karasangal village under the Sriperumpudur SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Palathotta Salai has changed

Over the years, the guideline value of Palathotta Salai has seen several revisions. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 167 per sq.ft. The value then increased by 50% to Rs 250 per sq.ft in the 2023 revision, and has remained the same in the 2024 revision, indicating no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has not changed, remaining at Rs 250 per sq.ft.

Guideline values in Karasangal

In Karasangal village, there are 59 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 3,550 per sq.ft. The median guideline value for these streets is Rs 402 per sq.ft, placing Palathotta Salai's 2024 figure below that median.

• Periya kalathumettu street: Rs 250 per sq.ft (2024)
• Periyar Street: Rs 250 per sq.ft (2024)
• Pillayar Koil Street: Rs 250 per sq.ft (2024)
• Nehru Street: Rs 250 per sq.ft (2024)
• Ponniamman Koil Street: Rs 250 per sq.ft (2024)
• Naveen Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Palathotta Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, leading to a total of Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Palathotta Salai?

The Sub Registrar Office that covers Palathotta Salai is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Karasangal. It serves as a benchmark for determining the minimum value at which a property can be sold or bought, ensuring that the transaction is recorded accurately in the official register.

When you buy or sell property, the guideline value helps in calculating the stamp duty and registration fees, which are essential for completing the legal process of property transfer. It is advisable to check the current guideline value before engaging in any property transaction to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Palathotta Salai?

The current guideline value of Palathotta Salai is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft since the 2012 revision, with a decrease to Rs 167 per sq.ft in 2017, followed by an increase back to Rs 250 per sq.ft in 2023 and 2024.

What is the land classification of Palathotta Salai?

Palathotta Salai is classified as Residential Class II Type - I, indicating its designation for residential purposes within the area.

What are the stamp duty and registration fees for property in Palathotta Salai?

For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500 and the registration fee would be Rs 5,000, totaling Rs 22,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Palathotta Salai located?

The Sub Registrar Office for Palathotta Salai is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.