Guideline Value for Palli Street

Palli Street guideline value

The current guideline value of Palli Street in Chindadripet village is Rs 3,800 per sq.ft, effective from 1 July 2024. This street falls under the Periamet SRO and is classified as Residential Class I Type - II.

How the guideline value of Palli Street has changed

The guideline value for Palli Street has undergone several revisions over the years. In 2007, the guideline value was Rs 2,000 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012. However, it then decreased to Rs 2,345 per sq.ft in 2017. The most recent revision in 2023 set the value at Rs 3,500 per sq.ft, followed by the current value of Rs 3,800 per sq.ft from 2024. Notably, the register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, there was a significant increase of 49%, while the value saw a 9% rise from 2023 to 2024. The overall change from 2007 to 2024 reflects a 90% increase in the guideline value.

Guideline values in Chindadripet

In Chindadripet, there are 98 streets under the Periamet SRO that have a 2024 guideline value ranging from Rs 2,500 to Rs 18,100 per sq.ft, with a median value of Rs 3,300 per sq.ft. Palli Street's 2024 guideline value of Rs 3,800 per sq.ft is above this median.

• Pantheon Road: Rs 18,100 per sq.ft (2024)
• Palani Andavar Koil street: Rs 4,900 per sq.ft (2024)
• Palani Andavar Koil 1st/2nd/3rd street: Rs 4,400 per sq.ft (2024)
• Padavattamman West Street: Rs 2,500 per sq.ft (2024)
• Padavattamman south Street: Rs 2,500 per sq.ft (2024)
• Padavattamman lane: Rs 3,300 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 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, making the total cost for these fees Rs 3,42,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Palli Street?

The Sub Registrar Office that covers Palli Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Chindadripet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately in the official register. Buyers and sellers must consider this value to comply with legal requirements and avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Palli Street?

The current guideline value of Palli Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 90%.

What are the other streets in Chindadripet with their guideline values?

Other streets in Chindadripet include Pantheon Road at Rs 18,100 per sq.ft, Palani Andavar Koil street at Rs 4,900 per sq.ft, and several others with varying rates.

What is the registration fee for property in Palli Street?

The registration fee for a property is calculated based on the guideline value. For example, for a property valued at Rs 38,00,000, the registration fee at 2% would be Rs 76,000.

Which office handles the registration of properties in Palli Street?

The Periamet Sub Registrar Office handles the registration of properties in Palli Street, located at 1103, Poonamallee High Road, Chennai-600 003.