Guideline Value for Palla Street

Palla Street guideline value

The current guideline value of Palla Street in Kattupakkam village is Rs 2,090 per sq.ft, effective from 1 July 2024. This street falls under the Kunrathur 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. In 2003, it was Rs 240 per sq.ft, which increased to Rs 550 per sq.ft in 2007. The value then rose significantly to Rs 1,900 per sq.ft in 2012, but saw a decrease to Rs 1,273 per sq.ft by 2017. Following this, the value increased to Rs 1,900 per sq.ft in 2023 and is now Rs 2,090 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 771%. The register has no figure for Palla Street for the year 2002.

Guideline values in Kattupakkam

Kattupakkam village has a range of guideline values across its 75 streets under the Kunrathur SRO, with the 2024 figures ranging from Rs 1,980 to Rs 4,290 per sq.ft. The median guideline value is Rs 2,090 per sq.ft, which is equal to the current value of Palla Street.

• Pada Salai Street: Rs 2,090 per sq.ft (2024)
• Om Sakthi Nagar: Rs 2,090 per sq.ft (2024)
• Paventhar Nagar Extension: Rs 2,090 per sq.ft (2024)
• Paventher Nagar: Rs 3,520 per sq.ft (2024)
• Peria Pattu Street: Rs 3,520 per sq.ft (2024)
• Pillaiyar koil Street: Rs 2,090 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 2,090 per sq.ft, the guideline value would be Rs 20,90,000. The stamp duty at 7% would amount to Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, totaling Rs 1,88,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Palla Street?

Palla Street is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kattupakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value influences the stamp duty and registration fees payable. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Palla Street?

The current guideline value of Palla Street is Rs 2,090 per sq.ft, effective from 1 July 2024.

What were the previous guideline values for Palla Street?

The guideline values for Palla Street have changed over the years: Rs 240 per sq.ft in 2003, Rs 550 per sq.ft in 2007, Rs 1,900 per sq.ft in 2012, Rs 1,273 per sq.ft in 2017, and Rs 1,900 per sq.ft in 2023.

How much has the guideline value changed from 2003 to 2024?

From 2003 to 2024, the guideline value of Palla Street has increased by 771%, from Rs 240 per sq.ft to Rs 2,090 per sq.ft.

What is the stamp duty rate for property in Kattupakkam?

The stamp duty rate for property transactions in Kattupakkam is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more information about it online.