Guideline Value for Palayam Pillai Nagar

Palayam Pillai Nagar guideline value

The current guideline value of Palayam Pillai Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Ayanavaram village under the AnnaNagar SRO, classified as Residential Class II Type - I.

How the guideline value of Palayam Pillai Nagar has changed

The guideline value for Palayam Pillai Nagar has seen significant changes over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 461 per sq.ft. This value increased dramatically to Rs 4,000 per sq.ft in 2012, marking an increase of 768%. However, it dropped to Rs 2,680 per sq.ft in 2017, reflecting a decrease of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft from the 2024 revision, representing a 10% increase from the previous year. The register has no figures for the years 2003 and 2007.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2002 figure to the current 2024 figure, there has been an increase of 854%. This illustrates the fluctuations in the guideline value over the years, reflecting changes in the local real estate market.

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, placing Palayam Pillai Nagar's 2024 figure below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost for stamp duty and registration would be Rs 3,96,000. 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 Palayam Pillai Nagar?

The Sub Registrar Office that covers Palayam Pillai Nagar 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 more information.

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 a property can be registered, ensuring that the government receives appropriate revenue through stamp duties and registration fees.

When buying or selling property, the guideline value will be used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, thus influencing the overall transaction cost.

Frequently asked questions

What is the current guideline value of Palayam Pillai Nagar?

The current guideline value of Palayam Pillai Nagar is Rs 4,400 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 461 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, with various increases and decreases in between.

What is the registration office for Palayam Pillai Nagar?

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

How is stamp duty calculated in Palayam Pillai Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied to the guideline value.

What is the range of guideline values in Ayanavaram?

The guideline values 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.