Guideline Value for Palkarar Street

Palkarar Street guideline value

The current guideline value of Palkarar Street is Rs 600 per sq.ft, effective from 1 July 2024. This street is located in Thirumangalam village under the Sunguvarchattram SRO, and it is classified as Residential Special Type - III.

How the guideline value of Palkarar Street has changed

Over the years, the guideline value for Palkarar Street has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 600 per sq.ft. The previous revision in 2017 had a lower figure of Rs 402 per sq.ft, marking a significant increase of 49% from 2017 to 2023. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%, but overall, from 2012 to 2024, there has been no change, with the value remaining at Rs 600 per sq.ft since 2012.

Guideline values in Thirumangalam

In Thirumangalam, there are 42 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 2,000 per sq.ft. The median value is Rs 605 per sq.ft, placing Palkarar Street's 2024 figure below that median.

• Palla Street: Rs 700 per sq.ft (2024)
• Padmavathi Nagar: Rs 605 per sq.ft (2024)
• Om Nagar: Rs 605 per sq.ft (2024)
• Pillaiayar Kovil Street: Rs 605 per sq.ft (2024)
• Ponniamman Kovil Street: Rs 600 per sq.ft (2024)
• Ponniamman Kovil Street (Thirumangalam Madura Kandigai): Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Palkarar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. 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 Palkarar Street?

The Sub Registrar Office that covers Palkarar Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Thirumangalam. 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 to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the officially recognized value of the property.

Frequently asked questions

What is the current guideline value of Palkarar Street?

The current guideline value of Palkarar Street is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft since the 2012 revision, with a significant increase of 49% from Rs 402 per sq.ft in 2017 to 2023.

What is the land classification of Palkarar Street?

Palkarar Street is classified as Residential Special Type - III, which influences its guideline value.

Where can I find the Sub Registrar Office for Palkarar Street?

The Sub Registrar Office for Palkarar Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in Palkarar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 6,00,000 would incur a stamp duty of Rs 42,000 at 7%.