Guideline Value for Palkarar Street

Palkarar Street guideline value

The current guideline value of Palkarar Street is Rs 500 per sq.ft, effective from 1 July 2024. This street is located in Molachoor village, under the Sunguvarchattram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Palkarar Street has changed

The guideline value of Palkarar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged in the subsequent revision in 2017, where it was adjusted to Rs 335 per sq.ft. However, from 2017 to 2023, the value increased by 49% back to Rs 500 per sq.ft. The most recent revision in 2024 has kept the guideline value stable at Rs 500 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for Palkarar Street. Overall, from 2012 to 2024, the guideline value has not changed.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft, with a median value of Rs 600 per sq.ft. Palkarar Street's 2024 figure is below this median.

• Palla odai: Rs 450 per sq.ft (2024)
• Periyar Cross Street: Rs 600 per sq.ft (2024)
• Periyar Street: Rs 300 per sq.ft (2024)
• N.L Chinnapar Street: Rs 600 per sq.ft (2024)
• Perumal Kovil Cross Street: Rs 300 per sq.ft (2024)
• Perumal Kovil Street: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Palkarar Street

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. 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 Palkarar Street?

The Sub Registrar Office that covers Palkarar Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Molachoor. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a buyer or seller engages in a property transaction, the guideline value serves as a benchmark for assessing the property's worth. This value is essential for calculating the associated costs, such as stamp duty and registration fees, which are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Palkarar Street?

The current guideline value of Palkarar Street is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then back to Rs 500 per sq.ft in 2023 and 2024. There are no figures available for the years 2002, 2003, and 2007.

What is the land classification of Palkarar Street?

Palkarar Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property in Palkarar Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 45,000.

Which Sub Registrar Office covers Palkarar Street?

The Sunguvarchattram Sub Registrar Office covers Palkarar Street, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.