Guideline Value for Palayathamman Koil Street

Palayathamman Koil Street guideline value

The current guideline value of Palayathamman Koil Street is Rs 1,980 per sq.ft as per the 2024 revision, effective from 1 July 2024. This street is located in Kerugambakkam village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Palayathamman Koil Street has changed

The guideline value for Palayathamman Koil Street has seen several revisions over the years. In the 2017 revision, the value was Rs 1,206 per sq.ft, which increased to Rs 1,800 per sq.ft in the 2023 revision. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, marking a 10% increase from the previous year. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, the guideline value has risen by 64% from the 2017 revision to the current 2024 value.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,800 per sq.ft. The median value among these streets is Rs 2,200 per sq.ft, indicating that Palayathamman Koil Street's 2024 figure is below this median.

• Paraniputhur Road: Rs 2,200 per sq.ft (2024)
• Our Lady Farm: Rs 2,200 per sq.ft (2024)
• Pattammal Garden: Rs 2,750 per sq.ft (2024)
• Pattammal Garden Extension - I: Rs 4,105 per sq.ft (2024)
• Om Sri Sai Nagar: Rs 2,860 per sq.ft (2024)
• Omathur Ramasamy reddiar Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Palayathamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Therefore, the total cost for these fees would be Rs 1,78,200. 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 accurate calculations.

Which Sub Registrar Office covers Palayathamman Koil Street?

The Sub Registrar Office that covers Palayathamman Koil Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Kerugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it impacts the stamp duty and registration fees applicable during the transaction.

When a property is sold, the registration office uses the guideline value to calculate the necessary fees. If the sale price exceeds the guideline value, the higher amount is used for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Palayathamman Koil Street?

The current guideline value of Palayathamman Koil Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 64% to the current figure of Rs 1,980 per sq.ft in 2024. The value rose from Rs 1,206 per sq.ft in 2017 to Rs 1,800 per sq.ft in 2023, and then to Rs 1,980 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% on the guideline value or the sale price, whichever is higher. The registration fee is 2% of the guideline value or sale price.

Which Sub Registrar Office handles registrations for Palayathamman Koil Street?

The Pammal Sub Registrar Office handles registrations for Palayathamman Koil Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the median guideline value for streets in Kerugambakkam?

The median guideline value for streets in Kerugambakkam is Rs 2,200 per sq.ft as of the 2024 revision. Palayathamman Koil Street's value is below this median at Rs 1,980 per sq.ft.