Guideline Value for Palla street

Palla street guideline value

The current guideline value of Palla street in Sigadivakkam village is Rs 181 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Sunguvarchattram SRO and is classified as Residential Class III Type - I.

How the guideline value of Palla street has changed

The guideline value of Palla street has seen several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 180 per sq.ft. This figure decreased to Rs 121 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 181 per sq.ft. The 2024 revision maintains this value at Rs 181 per sq.ft, indicating no change from the previous year.

It is important to note that there are no figures available for Palla street in the revisions from 2002, 2003, and 2007. The overall change from the 2012 revision to the 2024 revision is a slight increase of 1%.

Guideline values in Sigadivakkam

In Sigadivakkam, there are 11 streets under the Sunguvarchattram SRO that have a guideline value for 2024, ranging from Rs 181 to Rs 1,200 per sq.ft. The median guideline value for these streets is Rs 226 per sq.ft, which means that Palla street's 2024 figure is below this median.

• Mettu street: Rs 181 per sq.ft (2024)
• Kulakkarai Street: Rs 181 per sq.ft (2024)
• Kancheepuram Cheenai Road: Rs 500 per sq.ft (2024)
• Kamachiamman Nagar: Rs 226 per sq.ft (2024)
• Thulasi nagar: Rs 500 per sq.ft (2024)
• Vellalar Street: Rs 226 per sq.ft (2024)

Stamp duty and registration fee for property in Palla street

For a 1,000 sq.ft plot at the current guideline value of Rs 181 per sq.ft, the total guideline value would be Rs 1,81,000. The stamp duty, which is charged at 7%, would amount to Rs 12,670, while the registration fee at 2% would be Rs 3,620. Together, the total fees would come to Rs 16,290. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

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, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Sigadivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is documented accurately and legally.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline values.

Frequently asked questions

What is the current guideline value of Palla street?

The current guideline value of Palla street is Rs 181 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Palla street has changed from Rs 180 per sq.ft in 2012 to Rs 121 per sq.ft in 2017, then increased to Rs 181 per sq.ft in both 2023 and 2024.

What is the land classification of Palla street?

Palla street is classified as Residential Class III Type - I, indicating its suitability for residential development.

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

For a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 16,290, which includes stamp duty and registration fees based on the guideline value.

Which Sub Registrar Office covers Palla street?

The Sunguvarchattram Sub Registrar Office covers Palla street, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.