Guideline Value for Palli Lane

Palli Lane guideline value

The current guideline value of Palli Lane is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Palli Lane has changed

The guideline value for Palli Lane has seen several revisions over the years. In 2002, the value was Rs 289 per sq.ft, which increased to Rs 330 per sq.ft in 2003, marking a 14% rise. The value continued to rise significantly, reaching Rs 900 per sq.ft in 2007, a substantial increase of 173%. The value then saw a dramatic jump to Rs 3,500 per sq.ft in 2012, reflecting a 289% increase. However, it decreased to Rs 2,345 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 3,500 per sq.ft in 2023 and finally reached Rs 3,900 per sq.ft in 2024, an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1249%. There are no figures available for the revisions in years not mentioned in the register for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the current guideline value of Palli Lane.

• Palayathamman Street/Palayathan Street: Rs 3,900 per sq.ft (2024)
• Palaru Street (Bharathi Nagar): Rs 3,900 per sq.ft (2024)
• Palaru Street: Rs 3,900 per sq.ft (2024)
• Parameshwara Nagar 1st Lane: Rs 2,800 per sq.ft (2024)
• Parameshwara Nagar 2nd Lane: Rs 2,800 per sq.ft (2024)
• Parameshwara Nagar 3rd Lane: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Palli Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total cost to Rs 3,51,000. Please note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Palli Lane?

The Sub Registrar Office that covers Palli Lane is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Adambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a buyer and seller agree on a sale price, the higher of the sale price and the guideline value will be used to calculate the applicable duties and fees. This ensures transparency and compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Palli Lane?

The current guideline value of Palli Lane is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 289 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1249% over the years.

Where can I find the registration office for Palli Lane?

The registration office for Palli Lane is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the stamp duty rate for property transactions in Palli Lane?

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

Are there other streets in Adambakkam with the same guideline value?

Yes, there are other streets in Adambakkam that have the same guideline value of Rs 3,900 per sq.ft for 2024, including Palayathamman Street/Palayathan Street and Palaru Street.