Guideline Value for Palla Theru

Palla Theru guideline value

The current guideline value of Palla Theru, located in Sekkadu village under the Avadi SRO, is Rs 1,075 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Palla Theru has changed

The guideline value for Palla Theru has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,000 per sq.ft, which decreased to Rs 670 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 1,000 per sq.ft. The latest revision in 2024 has further increased it to Rs 1,075 per sq.ft, reflecting an 8% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Palla Theru. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Sekkadu

In Sekkadu village, there are 56 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 930 to Rs 4,800 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, placing Palla Theru's 2024 figure below this median.

• Palvadi Street: Rs 1,075 per sq.ft (2024)
• Ponnambalam Nagar: Rs 1,320 per sq.ft (2024)
• M.T.H.Road: Rs 2,250 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 1,320 per sq.ft (2024)
• Mettu Street: Rs 1,075 per sq.ft (2024)
• Mettu Sekkadu: Rs 1,075 per sq.ft (2024)

Stamp duty and registration fee for property in Palla Theru

For a 1,000 sq.ft plot at the current guideline value of Rs 1,075 per sq.ft, the total guideline value would be Rs 10,75,000. The stamp duty at 7% would amount to Rs 75,250, while the registration fee at 2% would be Rs 21,500, leading to a total cost of Rs 96,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Palla Theru?

Palla Theru falls under the jurisdiction of the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Sekkadu, as it determines the stamp duty and registration fees applicable to the transaction. This value is set by the government and is updated periodically based on various factors.

When registering a property, the buyer must pay the stamp duty 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 Theru?

The current guideline value of Palla Theru is Rs 1,075 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,075 per sq.ft in 2024.

What is the land classification of Palla Theru?

Palla Theru is classified as Residential Class II Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 10,75,000, the total fees would be Rs 96,750.

Which office handles property registrations for Palla Theru?

The Avadi Sub Registrar Office handles property registrations for Palla Theru, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.