Guideline Value for Palliamman Kovil Street

Palliamman Kovil Street guideline value

The current guideline value of Palliamman Kovil Street in Konnur village is Rs 5,500 per sq.ft, effective from 1 July 2024. This street falls under the Konnur SRO and is classified as Residential Class I Type - I.

How the guideline value of Palliamman Kovil Street has changed

The guideline value for Palliamman Kovil Street has seen significant changes over the years. In 2002, the guideline value was Rs 438 per sq.ft, which rose to Rs 475 per sq.ft in 2003, marking an increase of 8%. The value then increased by 111% to Rs 1,000 per sq.ft in 2007. Following this, there was a substantial rise of 400%, bringing the value to Rs 5,000 per sq.ft in 2012. However, the value decreased by 33% to Rs 3,350 per sq.ft in 2017. Subsequently, the guideline value increased by 49% to Rs 5,000 per sq.ft in 2023, and finally, it rose by 10% to the current value of Rs 5,500 per sq.ft in 2024.

It is important to note that the register has no figures for the years between these revisions, except for the ones mentioned. The overall change from 2002 to 2024 reflects an increase of 1156% in the guideline value per sq.ft.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 3,800 per sq.ft, placing Palliamman Kovil Street's 2024 figure above this median.

• Palaniandavar Kovil Street: Rs 7,100 per sq.ft (2024)
• Padmanaban Street: Rs 5,500 per sq.ft (2024)
• Pereri Street (Near Balliamman Koil): Rs 3,800 per sq.ft (2024)
• Periyar Nagar 4th Street and other Streets: Rs 3,800 per sq.ft (2024)
• North Redhills Road: Rs 5,500 per sq.ft (2024)
• North Madaveethi: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Palliamman Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Palliamman Kovil Street?

The Sub Registrar Office that covers Palliamman Kovil Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Konnur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Palliamman Kovil Street?

The current guideline value of Palliamman Kovil Street is Rs 5,500 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 438 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, representing an overall increase of 1156% over this period.

What is the median guideline value of streets in Konnur?

The median guideline value for streets in Konnur is Rs 3,800 per sq.ft, with Palliamman Kovil Street's current value above this median.

What are the stamp duty and registration fees for properties on Palliamman Kovil Street?

For a 1,000 sq.ft plot, the total stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000 based on the current guideline value.

Which office handles property registrations for Palliamman Kovil Street?

The Konnur Sub Registrar Office is responsible for handling property registrations for Palliamman Kovil Street, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.