Guideline Value for Palla Street

Palla Street guideline value

The current guideline value of Palla Street is Rs 100 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sriperumpudur SRO, classified as Residential Class IV Type - I.

How the guideline value of Palla Street has changed

Since the 2012 revision, the guideline value for Palla Street has remained at Rs 100 per sq.ft in both the 2012 and 2024 revisions. In the 2017 revision, the value was Rs 67 per sq.ft, indicating a 49% increase to Rs 100 per sq.ft by the 2023 revision, which remained unchanged in 2024. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%, but from 2012 to 2024, there has been no overall change. The current rate of Rs 100 per sq.ft is consistent with the previous year's figure, showing stability in the guideline value for Palla Street.

Guideline values in Kolathur

In Kolathur, there are 45 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 100 to Rs 1,300 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing Palla Street's 2024 figure below that median.

• Perumal Koil Street: Rs 200 per sq.ft (2024)
• Puthu Street: Rs 200 per sq.ft (2024)
• M.G.R Street: Rs 200 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 200 per sq.ft (2024)
• M.G.R Main Road: Rs 200 per sq.ft (2024)
• Rangaswamy Koil Street: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Palla Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. 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 Palla Street?

The Sub Registrar Office covering Palla Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kolathur. It determines the minimum price at which a property can be registered, ensuring that the transaction is recorded accurately for legal and taxation purposes.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Palla Street?

The current guideline value of Palla Street is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value of Palla Street changed over the years?

The guideline value has remained at Rs 100 per sq.ft from 2012 to 2024, with a previous figure of Rs 67 per sq.ft in 2017. There was a 49% increase from 2017 to 2023, but no change from 2023 to 2024.

What is the land classification for Palla Street?

Palla Street is classified as Residential Class IV Type - I, which indicates its suitability for residential development.

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

The Sub Registrar Office for Palla Street is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2% of the same. For example, for a 1,000 sq.ft plot at Rs 100 per sq.ft, the total fees would amount to Rs 9,000.