Guideline Value

Corporate

Guideline Value for Palayathamman Nagar

₹770/sq.ft.

The guideline value for Palayathamman Nagar in Manimangalam A village (Padappai SRO, Chennai zone) is Rs 770 per sq.ft, effective 1 July 2024. It was Rs 700 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Manimangalam A

Village

Padappai

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹770 /sq.ft.
From 1-4-2023 ₹700 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹469 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

3/158, Pushpagiri Main Rd, Padappai - 601 301.
044-27174392
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Palayathamman Nagar

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Palayathamman Nagar guideline value

The current guideline value of Palayathamman Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Manimangalam A village under the Padappai SRO, classified as Residential Class II Type - I.

How the guideline value of Palayathamman Nagar has changed

The guideline value for Palayathamman Nagar has seen several revisions over the years. The earliest available figure is from the 2017 revision, which was Rs 469 per sq.ft. This increased significantly to Rs 700 per sq.ft in the 2023 revision, marking a 49% rise. The current figure of Rs 770 per sq.ft in the 2024 revision reflects a further 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for Palayathamman Nagar.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft. The median value for these streets is Rs 880 per sq.ft, placing Palayathamman Nagar's current value below this median.

Stamp duty and registration fee for property in Palayathamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It is important to 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 Palayathamman Nagar?

The Sub Registrar Office that covers Palayathamman Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Manimangalam A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with the government’s valuation standards.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring that all transactions are fairly assessed.

Frequently asked questions

What is the current guideline value of Palayathamman Nagar?

The current guideline value of Palayathamman Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023, and then to Rs 770 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

What is the land classification of Palayathamman Nagar?

Palayathamman Nagar is classified as Residential Class II Type - I. This classification indicates the type of development and usage permitted in the area.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 7,70,000 in Palayathamman Nagar, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Palayathamman Nagar?

The Padappai Sub Registrar Office covers Palayathamman Nagar and is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find more information online.