Guideline Value for Palavarayan Street

Palavarayan Street guideline value

The current guideline value of Palavarayan Street is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Kunrathour-B village, under the Kunrathur SRO, and is classified as Mixed Special Type - III.

How the guideline value of Palavarayan Street has changed

The guideline value for Palavarayan Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,072 per sq.ft, which was then increased to Rs 1,600 per sq.ft in 2023. The most recent revision in 2024 raised the guideline value to Rs 1,760 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for this street in the revisions from 2002, 2003, 2007, and 2012. The significant changes between the revisions highlight the evolving property landscape in the area.

Guideline values in Kunrathour-B

In Kunrathour-B, there are 325 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 5,130 per sq.ft. The median guideline value for these streets is Rs 1,540 per sq.ft, placing Palavarayan Street's 2024 figure above that median.

• Padmavathy Nagar 5th Street: Rs 1,760 per sq.ft (2024)
• Padmavathy Nagar 4th Street: Rs 1,760 per sq.ft (2024)
• Padmavathy Nagar 3rd Street: Rs 1,760 per sq.ft (2024)
• Padmavathy Nagar 2nd Street: Rs 1,760 per sq.ft (2024)
• Padmavathy Nagar 1st Street: Rs 1,760 per sq.ft (2024)
• Padmavathy Nagar: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Palavarayan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total to Rs 1,58,400. It is important to note that 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 Palavarayan Street?

The Sub Registrar Office that covers Palavarayan Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kunrathour-B

The guideline value is a crucial factor in property transactions as it determines the minimum price at which a property can be registered. When buying or selling property in Kunrathour-B, this value is used to calculate the applicable stamp duty and registration fees.

Additionally, the guideline value serves as a reference point for buyers and sellers to understand the pricing landscape in the area. It is essential to consider this value to ensure compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Palavarayan Street?

The current guideline value of Palavarayan Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,072 per sq.ft to Rs 1,760 per sq.ft in 2024, marking an overall increase of 64%.

What is the land classification of Palavarayan Street?

Palavarayan Street is classified as Mixed Special Type - III, which indicates the type of development and usage allowed in the area.

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

For a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200, and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Where can I find the Sub Registrar Office for Palavarayan Street?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069, and it covers Palavarayan Street.