Guideline Value for Palla Street

Palla Street guideline value

The current guideline value of Palla Street in Ulunthai village, under the Sunguvarchattram SRO, is Rs 150 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Palla Street has changed

Looking at the revisions, the guideline value for Palla Street was Rs 150 per sq.ft in both the 2023 and 2024 revisions. The 2017 revision set the value at Rs 100 per sq.ft, which marked a significant increase of 50% when compared to the 2017 figure. Prior to that, the 2012 revision also had a guideline value of Rs 150 per sq.ft, indicating a decrease of 33% from the 2012 to the 2017 revision.

There are no figures available for the years 2002, 2003, and 2007 in the register for Palla Street. Overall, from the 2012 revision to the 2024 revision, the guideline value remains unchanged at Rs 150 per sq.ft.

Guideline values in Ulunthai

In Ulunthai village, there are 27 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 426 per sq.ft. The median value is Rs 150 per sq.ft, which aligns with the 2024 figure for Palla Street.

• Pallikuda Street: Rs 150 per sq.ft (2024)
• Nadu Street: Rs 150 per sq.ft (2024)
• Muthiriyar Street: Rs 150 per sq.ft (2024)
• Mettu Street: Rs 150 per sq.ft (2024)
• Ramar Koil Street: Rs 150 per sq.ft (2024)
• Rangapuram 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 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, totaling Rs 13,500. 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 Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, 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 Ulunthai

The guideline value is a critical factor in the registration process of property transactions in Ulunthai. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When you buy or sell property, the registration office uses the guideline value to determine the applicable fees. This ensures that the transaction is recorded accurately and that all legal requirements are met.

Frequently asked questions

What is the current guideline value of Palla Street?

The current guideline value of Palla Street is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Palla Street has seen various changes, with the most recent revisions in 2023 and 2024 maintaining the value at Rs 150 per sq.ft. The 2017 revision was Rs 100 per sq.ft, which was a 50% increase from that year.

What is the classification of land on Palla Street?

Palla Street is classified as Residential Class II Type - I. This classification is important for understanding the potential uses of the land.

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

For a 1,000 sq.ft plot valued at Rs 1,50,000, the stamp duty would be Rs 10,500, and the registration fee would be Rs 3,000, totaling Rs 13,500. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Palla Street located?

The Sub Registrar Office for Palla Street is located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. This office handles the registration of property transactions in the area.