Guideline Value for Palayathamman Street/Palayathan Street

Palayathamman Street/Palayathan Street guideline value

The current guideline value of Palayathamman Street/Palayathan Street is Rs 3,900 per sq.ft. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Palayathamman Street/Palayathan Street has changed

The guideline value for Palayathamman Street/Palayathan Street has undergone several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 1,496 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, followed by a decrease to Rs 2,345 per sq.ft in 2017. The most recent revisions saw the value rise to Rs 3,500 per sq.ft in 2023 and then to Rs 3,900 per sq.ft in 2024, marking an increase of 11% from the previous year.

Notably, there are no recorded figures for Palayathamman Street/Palayathan Street in the years 2002 and 2003. Overall, from the 2007 revision to the current 2024 value, there has been an increase of 161%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO, with guideline values ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,900 per sq.ft, which is equal to the current value of Palayathamman Street/Palayathan Street.

• Palaru Street (Bharathi Nagar): Rs 3,900 per sq.ft (2024)
• Palaru Street: Rs 3,900 per sq.ft (2024)
• Palli Lane: Rs 3,900 per sq.ft (2024)
• Padel Street: Rs 3,900 per sq.ft (2024)
• Pachiamman Koil Street: Rs 3,900 per sq.ft (2024)
• Parameshwara Nagar 1st Lane: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Palayathamman Street/Palayathan Street

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Palayathamman Street/Palayathan Street?

The Sub Registrar Office that covers Palayathamman Street/Palayathan Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Adambakkam. It helps determine the stamp duty and registration fees that need to be paid when buying or selling property. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to understand the financial implications of their transactions.

When a property is sold, the guideline value serves as a reference point for calculating the necessary fees. It is essential for both parties in a transaction to be informed about the current guideline value to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of Palayathamman Street/Palayathan Street?

The current guideline value of Palayathamman Street/Palayathan Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, from Rs 1,496 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 161%.

What are the other guideline values in Adambakkam?

In Adambakkam, the guideline values for other streets range from Rs 2,800 to Rs 11,000 per sq.ft, with the median value being Rs 3,900 per sq.ft.

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

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000, and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles registrations for Palayathamman Street/Palayathan Street?

The Alandur Sub Registrar Office handles registrations for Palayathamman Street/Palayathan Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.