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 Pillaippakkam-A village, under the Sriperumpudur SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Palla Street has changed

The guideline value for Palla Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 100 per sq.ft, which is the same as the 2023 revision. Prior to that, in 2017, the guideline value was Rs 67 per sq.ft. There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

When comparing the revisions, there has been no change from 2023 to 2024, while there was a significant increase of 49% from 2017 to 2023. Overall, from 2017 to 2024, the guideline value has increased by 49%.

Guideline values in Pillaippakkam-A

Pillaippakkam-A has a total of 49 streets under the Sriperumpudur SRO that carry a 2024 guideline value. The values range from Rs 100 to Rs 1,254 per sq.ft, with a median of Rs 300 per sq.ft. Palla Street's 2024 guideline value is below this median.

• Pattukottai Azhagiri Nagar: Rs 300 per sq.ft (2024)
• Om Namachivaya Nagar: Rs 1,254 per sq.ft (2024)
• Peyari Dappadatha Manaipirivu: Rs 344 per sq.ft (2024)
• Neelakanda Siva Nagar: Rs 200 per sq.ft (2024)
• Raja veedhi: Rs 300 per sq.ft (2024)
• Rajeswari Nagar: Rs 300 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 of Rs 100 per sq.ft, the guideline value amounts to 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. Please 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 Palla Street?

The Sub Registrar Office that covers 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 Pillaippakkam-A

The guideline value plays a crucial role when buying or selling property in Pillaippakkam-A. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value may differ from the actual sale price.

When registering a property, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

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 changed over the years?

The guideline value has remained at Rs 100 per sq.ft from 2023 to 2024, while it increased from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in 2023, marking a 49% increase overall from 2017 to 2024.

What are the stamp duty and registration fees for properties in Palla Street?

For a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 and the registration fee would be Rs 2,000, totaling Rs 9,000. This is based on a 1,000 sq.ft plot at the current guideline value.

Which office handles the registration for Palla Street?

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

What is the median guideline value in Pillaippakkam-A?

The median guideline value in Pillaippakkam-A is Rs 300 per sq.ft, with Palla Street's guideline value being below this median at Rs 100 per sq.ft.