Guideline Value for Palla Street

Palla Street guideline value

The current guideline value of Palla Street in Papanguzhi village is Rs 200 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Class I 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 earliest recorded figure is from the 2012 revision, which was Rs 200 per sq.ft. This was followed by a decrease to Rs 134 per sq.ft in the 2017 revision, marking a drop of 33%. However, in the 2023 revision, the value returned to Rs 200 per sq.ft, maintaining this figure into the 2024 revision, which also stands at Rs 200 per sq.ft, showing no change from the previous year.

Notably, there are no figures available for Palla Street in the 2002, 2003, and 2007 revisions. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 200 per sq.ft.

Guideline values in Papanguzhi

In Papanguzhi, there are nine streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 500 per sq.ft. The median value for these streets is Rs 200 per sq.ft, which is equal to the 2024 figure for Palla Street.

• Padasalai Street: Rs 200 per sq.ft (2024)
• Odai Street: Rs 300 per sq.ft (2024)
• Perumal Kovil Street: Rs 200 per sq.ft (2024)
• P.M.S Nagar: Rs 300 per sq.ft (2024)
• Sri Sathya Sai Nagar(Akshara City): Rs 500 per sq.ft (2024)
• Thideer Nagar: Rs 200 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 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty is charged at 7%, which totals Rs 14,000, and the registration fee at 2% amounts to Rs 4,000. Together, these fees total Rs 18,000. 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 Palla Street?

Palla Street is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the property registration process in Papanguzhi. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When purchasing property, it is crucial to consider the guideline value as it can significantly impact the total cost of the transaction. This ensures that all legal and financial obligations are met during the registration process.

Frequently asked questions

What is the current guideline value of Palla Street?

The current guideline value of Palla Street is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since 2012, with a decrease to Rs 134 per sq.ft in 2017 before returning to Rs 200 per sq.ft in 2023 and 2024.

What are the other streets in Papanguzhi with their guideline values?

Other streets in Papanguzhi include Padasalai Street and Perumal Kovil Street at Rs 200 per sq.ft, Odai Street and P.M.S Nagar at Rs 300 per sq.ft, and Sri Sathya Sai Nagar(Akshara City) at Rs 500 per sq.ft.

What fees are associated with buying property on Palla Street?

When buying property on Palla Street, the stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, these fees total Rs 18,000.

Where is the Sub Registrar Office for Palla Street located?

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