Guideline Value for Palayakaran Ist Street

Palayakaran Ist Street guideline value

The current guideline value of Palayakaran Ist Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village under the AnnaNagar SRO, classified as Residential Class I Type - III.

How the guideline value of Palayakaran Ist Street has changed

Over the years, the guideline value for Palayakaran Ist Street has seen several revisions. The earliest figure available is from 2007, where the value was Rs 1,000 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in 2012, marking a 350% rise. However, it then decreased to Rs 3,015 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 4,500 per sq.ft in 2023, before reaching the current value of Rs 4,900 per sq.ft in 2024, which is a 9% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 390%.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, which is equal to the current guideline value of Palayakaran Ist Street.

• Palavoyal Street, Chennai 82: Rs 4,400 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 Palayakaran Ist Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, totaling Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Palayakaran Ist Street?

The Sub Registrar Office that covers Palayakaran Ist Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Ayanavaram. It serves as the basis for calculating stamp duty and registration fees during the property registration process. Buyers and sellers need to be aware of this value to ensure proper compliance with local regulations.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Palayakaran Ist Street?

The current guideline value of Palayakaran Ist Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,000 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, with various increases and decreases over the years.

What is the land classification for Palayakaran Ist Street?

Palayakaran Ist Street is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 49,00,000, the stamp duty is Rs 3,43,000 and the registration fee is Rs 98,000, totaling Rs 4,41,000.

Which office handles registrations for Palayakaran Ist Street?

The AnnaNagar Sub Registrar Office handles registrations for Palayakaran Ist Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.