Guideline Value for Palayakkaran Street

Palayakkaran Street guideline value

The current guideline value of Palayakkaran 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 Palayakkaran Street has changed

Over the years, the guideline value of Palayakkaran Street has seen several revisions. In the 2007 revision, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in the 2012 revision, marking a 350% increase. However, in the 2017 revision, the value decreased to Rs 3,015 per sq.ft, reflecting a decline of 33%. The guideline value then rose to Rs 4,500 per sq.ft in the 2023 revision, a 49% increase from the previous figure. The most recent revision in 2024 set the value at Rs 4,900 per sq.ft, representing a 9% increase from 2023.

The register has no figures for the years 2002 and 2003 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, with the 2024 guideline values 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 guideline value of Palayakkaran Street.

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

Stamp duty and registration fee for property in Palayakkaran Street

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

Which Sub Registrar Office covers Palayakkaran Street?

The Sub Registrar Office that covers Palayakkaran Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Ayanavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When buying or selling a property, the guideline value aids in calculating the stamp duty and registration fees. The fees are based on the guideline value or the sale price, whichever is higher, thus influencing the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Palayakkaran Street?

The current guideline value of Palayakkaran 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 an overall increase of 390%.

What is the registration office for Palayakkaran Street?

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

How is stamp duty calculated for properties in Ayanavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 49,00,000, the stamp duty would be Rs 3,43,000 at 7%.

What is the range of guideline values for streets in Ayanavaram?

The guideline values for streets in Ayanavaram range from Rs 2,700 to Rs 20,000 per sq.ft, with a median value of Rs 4,900 per sq.ft.