Guideline Value for Palli Street

Palli Street guideline value

The current guideline value of Palli Street in Selavoyal village, under the Madhavaram SRO, is Rs 1,900 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III 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 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,206 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 1,800 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,900 per sq.ft, marking a 6% rise from the previous year.

It is important to note that the register has no figures for Palli Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 27%.

Guideline values in Selavoyal

In Selavoyal, there are a total of 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft, with a median value of Rs 2,200 per sq.ft. Palli Street's 2024 guideline value is below this median.

• Pallpannai Salai 1st Cross Street: Rs 1,900 per sq.ft (2024)
• Pallpannai Salai 2nd Cross Street: Rs 1,900 per sq.ft (2024)
• Pallpannai Salai Cross Main Road: Rs 1,900 per sq.ft (2024)
• Parvathi Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Parvathi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Parvathi Nagar 3rd Street: Rs 2,200 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 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Palli Street?

Palli Street is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Selavoyal. It serves as a reference point for determining the stamp duty and registration fees applicable to the property being bought or sold.

When you engage in a property transaction, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in real estate dealings. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Palli Street?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,500 per sq.ft in 2012 to Rs 1,900 per sq.ft in 2024, with notable changes in between, including a rise of 49% from 2017 to 2023.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 19,00,000, with stamp duty at Rs 1,33,000 and registration fees at Rs 38,000, totaling Rs 1,71,000.

Which office handles property registrations for Palli Street?

The Madhavaram Sub Registrar Office handles property registrations for Palli Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

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, ensuring that these are calculated based on a fair reference point.