Guideline Value for Palla Colony

Palla Colony guideline value

The current guideline value of Palla Colony, located in Vayaloor village under the Sunguvarchattram SRO, is Rs 105 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Palla Colony has changed

The guideline value for Palla Colony has seen several revisions over the years. The 2012 revision set the value at Rs 100 per sq.ft, which then decreased to Rs 67 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 100 per sq.ft in the 2023 revision, and now stands at Rs 105 per sq.ft in the 2024 revision, marking a 5% increase from the previous year. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%, while from 2012 to 2017, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 5%.

Guideline values in Vayaloor

In Vayaloor, there are 18 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 105 to Rs 155 per sq.ft. The median value is Rs 105 per sq.ft, which is equal to the guideline value of Palla Colony.

• Perumal Kovil Street: Rs 126 per sq.ft (2024)
• Mettu Colony: Rs 105 per sq.ft (2024)
• School Street: Rs 155 per sq.ft (2024)
• Kulakarai Street: Rs 155 per sq.ft (2024)
• Kolla Colony: Rs 105 per sq.ft (2024)
• Stalin Nagar: Rs 155 per sq.ft (2024)

Stamp duty and registration fee for property in Palla Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 105 per sq.ft, the total guideline value would be Rs 1,05,000. The stamp duty at 7% would amount to Rs 7,350, and the registration fee at 2% would be Rs 2,100, bringing the total cost to Rs 9,450. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Palla Colony?

The Sub Registrar Office covering Palla Colony 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 details.

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

The guideline value is a critical factor during property registration in Vayaloor. It serves as a benchmark for determining the stamp duty and registration fees that buyers need to pay when purchasing property in the area.

When a property is sold, the guideline value is used to ensure that the transaction is registered at a fair value. This helps in maintaining transparency and accountability in property transactions, ensuring that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Palla Colony?

The current guideline value of Palla Colony is Rs 105 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then increased to Rs 100 per sq.ft in 2023, and is now Rs 105 per sq.ft in 2024.

What is the land classification for Palla Colony?

Palla Colony is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where is the Sub Registrar Office for Palla Colony located?

The Sub Registrar Office for Palla Colony is located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Palla Colony?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,05,000, the stamp duty at 7% would be Rs 7,350.