Guideline Value for Palayakara Street

Palayakara Street guideline value

The current guideline value of Palayakara Street in Manancheri village is Rs 660 per sq.ft, effective from 1 July 2024. This street falls under the Kunrathur SRO and is classified as Residential Class II Type - I.

How the guideline value of Palayakara Street has changed

In the 2007 revision, the guideline value was Rs 175 per sq.ft. It increased significantly to Rs 750 per sq.ft in 2012, marking a rise of 329%. However, in the 2017 revision, the value dropped to Rs 502 per sq.ft, reflecting a decrease of 33%. The value then rose to Rs 600 per sq.ft in the 2023 revision, a change of 20%, and is now Rs 660 per sq.ft in the 2024 revision, which is a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Manancheri

In Manancheri, there are 59 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 3,400 per sq.ft. The median guideline value in the village is Rs 990 per sq.ft, placing Palayakara Street's 2024 figure below this median.

• Padmavathy Nagar: Rs 990 per sq.ft (2024)
• Pallavaram Main Road: Rs 1,320 per sq.ft (2024)
• Parvathy Avenue: Rs 1,650 per sq.ft (2024)
• Parvathy Enclave: Rs 2,500 per sq.ft (2024)
• Perumal koil Street: Rs 1,100 per sq.ft (2024)
• Pilliyar koil Sandhu: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Palayakara Street

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, resulting in a total of Rs 59,400. Please note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Palayakara Street?

The Sub Registrar Office that covers Palayakara 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 Manancheri

The guideline value serves as a benchmark for property transactions in Manancheri. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees.

It is essential to note that the guideline value may influence the sale price, as it is a reference point for both buyers and sellers during property transactions. Buyers should be aware of the guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Palayakara Street?

The current guideline value of Palayakara Street is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen fluctuations, starting from Rs 175 per sq.ft in 2007, peaking at Rs 750 per sq.ft in 2012, and currently standing at Rs 660 per sq.ft as of 2024.

What is the land classification for Palayakara Street?

Palayakara Street is classified as Residential Class II Type - I under the current guidelines.

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

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

How is stamp duty calculated for properties in Manancheri?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 6,60,000 would incur a stamp duty of Rs 46,200 at 7%.