Guideline Value for Palli Street

Palli Street guideline value

The current guideline value of Palli Street in Menambedu village under the Ambattur SRO is Rs 1,001 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - I land classification.

How the guideline value of Palli Street has changed

The guideline value for Palli Street has seen several revisions over the years. The earliest available figure is from 2012, when it was Rs 800 per sq.ft. This increased to Rs 536 per sq.ft in 2017, followed by a significant rise to Rs 1,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,001 per sq.ft, marking a 0% change from the previous year.

From 2012 to 2024, the overall change in the guideline value is +25%. Specifically, there was an 87% increase from the 2017 figure to the 2023 figure. It is important to note that there are no recorded figures for Palli Street in the years 2002, 2003, and 2007.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median guideline value for the village is Rs 1,003 per sq.ft, placing Palli Street's value below this median.

• Pallvan Nagar: Rs 1,002 per sq.ft (2024)
• Pallavan Street: Rs 1,000 per sq.ft (2024)
• Pari Nagar: Rs 1,700 per sq.ft (2024)
• Pari Nagar 1st Street: Rs 1,700 per sq.ft (2024)
• Pari Nagar - 2nd Street: Rs 1,700 per sq.ft (2024)
• Pari Nagar 3rd Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Palli Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,001 per sq.ft, the total guideline value would be Rs 10,01,000. The stamp duty at 7% would amount to Rs 70,070, and the registration fee at 2% would be Rs 20,020, bringing the total to Rs 90,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Palli Street?

Palli Street is covered by the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is utilized during the registration process of property transactions in Menambedu. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

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 Palli Street?

The current guideline value of Palli Street is Rs 1,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 1,001 per sq.ft in 2024, with significant increases noted in 2017 and 2023.

Which Sub Registrar Office covers Palli Street?

Palli Street is covered by the Ambattur Sub Registrar Office located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What are the stamp duty and registration fees for property in Palli Street?

For a property valued at Rs 10,01,000, the stamp duty would be Rs 70,070, and the registration fee would be Rs 20,020, totaling Rs 90,090.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is charged based on the higher of the guideline value or the sale price.