Guideline Value for Palla odai

Palla odai guideline value

The current guideline value of Palla odai is Rs 450 per sq.ft, effective from 1 July 2024. This street is located in Molachoor village under the Sunguvarchattram SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Palla odai has changed

The guideline value for Palla odai has seen several revisions over the years. In 2012, the value was set at Rs 450 per sq.ft, which remained unchanged in the 2023 revision. However, from 2017 to 2023, there was a significant increase of 50%, with the 2017 value recorded at Rs 301 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. Overall, from 2012 to 2024, the guideline value has remained the same at Rs 450 per sq.ft. The current value reflects stability in the recent revisions.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO with a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft. The median value for these streets is Rs 600 per sq.ft, placing Palla odai's 2024 figure below this median.

• Palkarar Street: Rs 500 per sq.ft (2024)
• Periyar Cross Street: Rs 600 per sq.ft (2024)
• Periyar Street: Rs 300 per sq.ft (2024)
• N.L Chinnapar Street: Rs 600 per sq.ft (2024)
• Perumal Kovil Cross Street: Rs 300 per sq.ft (2024)
• Perumal Kovil Street: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Palla odai

For a 1,000 sq.ft plot at the current guideline value of Rs 450 per sq.ft, the total guideline value would be Rs 4,50,000. The stamp duty at 7% would amount to Rs 31,500, and the registration fee at 2% would be Rs 9,000, totaling Rs 40,500. 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 odai?

The Sub Registrar Office that covers Palla odai is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Molachoor, as it determines the minimum price at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and avoid legal issues during transactions.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. It is essential for both parties in a transaction to understand how these values are applied to ensure a smooth registration process.

Frequently asked questions

What is the current guideline value of Palla odai?

The current guideline value of Palla odai is Rs 450 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 450 per sq.ft in 2012, 2023, and 2024, with a significant increase of 50% from Rs 301 per sq.ft in 2017 to 2023. There was a decrease of 33% from 2012 to 2017.

What are the guideline values of other streets in Molachoor?

Other streets in Molachoor have varying guideline values, ranging from Rs 300 to Rs 600 per sq.ft in 2024. For example, Palkarar Street is valued at Rs 500 per sq.ft, while Periyar Cross Street is at Rs 600 per sq.ft.

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

For a property valued at Rs 4,50,000, the stamp duty would be Rs 31,500, and the registration fee would be Rs 9,000, totaling Rs 40,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Palla odai?

The Sunguvarchattram Sub Registrar Office handles property registrations for Palla odai. It is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.