Guideline Value for Palavoyal Street, Chennai 82

Palavoyal Street, Chennai 82 guideline value

The current guideline value for Palavoyal Street, Chennai 82 is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village and falls under the AnnaNagar SRO, classified as Residential Class II Type - I.

How the guideline value of Palavoyal Street, Chennai 82 has changed

The guideline value for Palavoyal Street has seen several revisions over the years. In 2007, the value was set at Rs 1,200 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a 233% rise. However, from 2012 to 2017, there was a decrease to Rs 2,680 per sq.ft, reflecting a drop of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, before reaching the current rate of Rs 4,400 per sq.ft in 2024, which is a 10% increase.

Between the revisions, the guideline value increased from Rs 2,680 per sq.ft in 2017 to Rs 4,000 per sq.ft in 2023, which is a 49% increase. Overall, from 2007 to 2024, the guideline value has increased by 267%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing Palavoyal Street's 2024 figure below that median.

• Palayakaran Ist Street: Rs 4,900 per sq.ft (2024)
• palavoyal Road: Rs 4,900 per sq.ft (2024)
• Palayakkaran Iind street: Rs 4,900 per sq.ft (2024)
• Palayakkaran Street: Rs 4,900 per sq.ft (2024)
• Palayam Pillai Nagar: Rs 4,400 per sq.ft (2024)
• Palayam Pillai Nagar 2nd Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Palavoyal Street, Chennai 82

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 Palavoyal Street, Chennai 82?

The Sub Registrar Office covering Palavoyal Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ayanavaram. It serves as a benchmark for determining the amount of stamp duty and registration fees payable during the transaction.

When registering a property, the buyer must pay stamp duty based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Palavoyal Street, Chennai 82?

The current guideline value for Palavoyal Street, Chennai 82 is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, with the most recent increase from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, a 10% rise. Overall, from 2007 to 2024, the value increased by 267%.

What are the other streets in Ayanavaram with their guideline values?

Other streets in Ayanavaram include Palayakaran Ist Street, palavoyal Road, Palayakkaran Iind street, Palayakkaran Street, Palayam Pillai Nagar, and Palayam Pillai Nagar 2nd Street, with values ranging from Rs 4,400 to Rs 4,900 per sq.ft.

What is the stamp duty rate for property in Ayanavaram?

The stamp duty rate for property transactions in Ayanavaram is 7% of the higher value between the guideline value and the sale price. This is applicable during the registration of property.

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

The Sub Registrar Office covering Palavoyal Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. You can find more information about it online.