Guideline Value for Palli Vinayagar Koil Street

Palli Vinayagar Koil Street guideline value

The current guideline value of Palli Vinayagar Koil Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village, under the Ambattur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Palli Vinayagar Koil Street has changed

The guideline value for Palli Vinayagar Koil Street has seen several revisions over the years. In 2002, the guideline value was Rs 139 per sq.ft, which increased to Rs 160 per sq.ft in 2003, marking a 15% rise. By 2007, the value surged to Rs 200 per sq.ft, reflecting a 25% increase. The most significant change occurred in 2012 when the value jumped to Rs 2,200 per sq.ft, a staggering increase of 1,000%. However, in 2017, the value decreased to Rs 1,474 per sq.ft, a decline of 33%. The latest revision in 2024 has brought the guideline value back up to Rs 2,400 per sq.ft, representing a 63% increase from the 2017 figure. The register has no figure for this street in 2023.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, which is equal to the 2024 guideline value of Palli Vinayagar Koil Street.

• Palli 1st E.V.R. Nagammai St.: Rs 1,500 per sq.ft (2024)
• Pallavan Street (Senthil Nagar): Rs 2,700 per sq.ft (2024)
• Pallavan 6th St. (Cholan Nagar): Rs 1,600 per sq.ft (2024)
• Pallavan 5th St. (Cholan Nagar): Rs 1,600 per sq.ft (2024)
• Pallavan 4th St. (Cholan Nagar): Rs 1,600 per sq.ft (2024)
• Pallavan 3rd St. (Cholan Nagar): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Palli Vinayagar Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 2,400 per sq.ft, the guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, totaling Rs 2,16,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Palli Vinayagar Koil Street?

The Sub Registrar Office that covers Palli Vinayagar Koil Street is 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 here.

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

The guideline value is crucial during the registration process of property transactions in Thirumullaivoyal. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these fees are calculated based on the higher of the guideline value or the actual sale price.

When buying or selling property, it is essential to be aware of the guideline value as it impacts the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Palli Vinayagar Koil Street?

The current guideline value of Palli Vinayagar Koil Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 139 per sq.ft in 2002 to Rs 2,400 per sq.ft in 2024, marking an overall increase of 1,627%.

What is the land classification of Palli Vinayagar Koil Street?

Palli Vinayagar Koil Street is classified as Residential Class I Type - I.

Which Sub Registrar Office handles the registration for this street?

The Ambattur Sub Registrar Office handles the registration for Palli Vinayagar Koil Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 24,00,000, the stamp duty at 7% would be Rs 1,68,000.