Guideline Value for Palayamkoil Street

Palayamkoil Street guideline value

The current guideline value of Palayamkoil Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Palayamkoil Street has changed

The guideline value for Palayamkoil Street has undergone several revisions. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 1,500 per sq.ft, which increased by 10% to Rs 1,650 per sq.ft in the 2024 revision.

This increase reflects the changes in the guideline value over the years, with the most recent revision showing a clear upward trend from Rs 1,500 in 2023 to Rs 1,650 in 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value of Palayamkoil Street is below this median.

• Pallavan Cross Street: Rs 2,200 per sq.ft (2024)
• Padmavathi Street, Sairam Avenue, Balaiya Garder: Rs 3,850 per sq.ft (2024)
• Pallavan Street: Rs 2,200 per sq.ft (2024)
• Padmavathi Nagar, Sreenivasan Nagar: Rs 3,850 per sq.ft (2024)
• Padmavathiammal Street+: Rs 3,850 per sq.ft (2024)
• Ottery Road 2nd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Palayamkoil Street

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. 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 Palayamkoil Street?

The Sub Registrar Office that covers Palayamkoil Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is an essential factor in property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees that need to be paid during the registration process.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and fairly, and it helps in maintaining transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Palayamkoil Street?

The current guideline value of Palayamkoil Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Palayamkoil Street was Rs 1,500 per sq.ft in 2023 and increased to Rs 1,650 per sq.ft in 2024, representing a 10% increase.

What is the land classification for Palayamkoil Street?

Palayamkoil Street falls under the Residential Class II Type - II land classification.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Palayamkoil Street?

Stamp duty for properties in Palayamkoil Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.