Guideline Value for Palayam Pillai Nagar Ist Street

Palayam Pillai Nagar Ist Street guideline value

The current guideline value of Palayam Pillai Nagar Ist Street is Rs 4,900 per sq.ft. This street is located in Ayanavaram village, under the AnnaNagar SRO, and is classified as Residential Class I Type - III.

How the guideline value of Palayam Pillai Nagar Ist Street has changed

The guideline value for Palayam Pillai Nagar Ist Street has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 1,200 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in 2012, marking a 275% rise. However, the value then decreased to Rs 3,015 per sq.ft in 2017, a drop of 33%. The 2023 revision saw the value rise again to Rs 4,500 per sq.ft, followed by the latest revision in 2024, which set the guideline value at Rs 4,900 per sq.ft, representing a 9% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 308%.

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 for these streets is Rs 4,900 per sq.ft, which is equal to the current value of Palayam Pillai Nagar Ist Street.

• Palayam Pillai Nagar 3rd Street: Rs 4,900 per sq.ft (2024)
• Palayam Pillai Nagar 2nd Street: Rs 4,900 per sq.ft (2024)
• Palayam Pillai Nagar: Rs 4,400 per sq.ft (2024)
• Palayakkaran Street: Rs 4,900 per sq.ft (2024)
• Palayakkaran Iind street: Rs 4,900 per sq.ft (2024)
• Palayakaran Ist Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Palayam Pillai Nagar 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 would be Rs 49,00,000. The 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 to Rs 4,41,000. 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 details.

Which Sub Registrar Office covers Palayam Pillai Nagar Ist Street?

The Sub Registrar Office that covers Palayam Pillai Nagar 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 information.

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

When buying or selling property in Ayanavaram, the guideline value is an essential factor in determining the stamp duty and registration fees. It serves as a benchmark for property transactions, ensuring that the fees are calculated based on the official value set by the government.

During the registration process, the guideline value is compared with the sale price of the property. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that all transactions are fairly assessed according to the established guidelines.

Frequently asked questions

What is the current guideline value for Palayam Pillai Nagar Ist Street?

The current guideline value for Palayam Pillai Nagar 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 1,200 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 308% over the years.

What is the stamp duty rate for properties in Palayam Pillai Nagar Ist Street?

The stamp duty rate for properties in Palayam Pillai Nagar Ist Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Palayam Pillai Nagar Ist Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value for streets in Ayanavaram?

The median guideline value for streets in Ayanavaram is Rs 4,900 per sq.ft, which is the same as the current guideline value for Palayam Pillai Nagar Ist Street.