Guideline Value for Palayakkaran Iind street

Palayakkaran Iind street guideline value

The current guideline value of Palayakkaran Iind street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village and falls under the AnnaNagar SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Palayakkaran Iind street has changed

The guideline value for Palayakkaran Iind street has undergone several revisions over the years. The earliest recorded revision was in 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, by 2017, the value decreased to Rs 3,015 per sq.ft, a drop of 33%. The value then saw a substantial increase to Rs 4,500 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 4,900 per sq.ft, reflecting a 9% increase from the previous year.

Between 2017 and 2023, the value rose by 49%. Overall, from 2007 to 2024, the guideline value has increased by 390%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

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 guideline value for these streets is Rs 4,900 per sq.ft, which is equal to the current value of Palayakkaran Iind street.

• Palayakkaran Street: Rs 4,900 per sq.ft (2024)
• Palayakaran Ist Street: Rs 4,900 per sq.ft (2024)
• Palavoyal Street, Chennai 82: Rs 4,400 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)
• Palayam Pillai Nagar 3rd Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Palayakkaran Iind street

For a 1,000 sq.ft plot at the current rate of Rs 4,900 per sq.ft, the guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, while the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Palayakkaran Iind street?

The Sub Registrar Office that covers Palayakkaran Iind street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for additional information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ayanavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Palayakkaran Iind street?

The current guideline value of Palayakkaran Iind 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 from Rs 1,000 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting a total increase of 390% over the years.

What is the land classification for Palayakkaran Iind street?

The land classification for Palayakkaran Iind street is Residential Class I Type - III.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Palayakkaran Iind street?

The Sub Registrar Office for Palayakkaran Iind street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.