Guideline Value for Palliarasan Street

Palliarasan Street guideline value

The current guideline value of Palliarasan Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village, under the AnnaNagar SRO, and is classified as Residential Class I Type - III.

How the guideline value of Palliarasan Street has changed

The guideline value for Palliarasan Street has seen several revisions over the years. In 2007, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 275%. However, it then decreased to Rs 3,015 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 4,500 per sq.ft in 2023, and most recently, it has been set at Rs 4,900 per sq.ft in 2024, reflecting a 9% increase from the previous year.

From 2017 to 2023, the increase was substantial at 49%. Overall, from the 2007 revision to the current 2024 figure, there has been an increase of 308%. It is important to note that the register has no figures for this street for the years 2002 and 2003.

Guideline values in Ayanavaram

Ayanavaram village has a total of 369 streets under the AnnaNagar SRO with a 2024 guideline value ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, which is equal to the current value of Palliarasan Street.

• Palayam Pillai Nagar Ist Street: Rs 4,900 per sq.ft (2024)
• Palayam Pillai Nagar 3rd Street: Rs 4,900 per sq.ft (2024)
• Palayam Pillai Nagar 2nd Street: Rs 4,900 per sq.ft (2024)
• Palayam Pillai Nagar: Rs 4,400 per sq.ft (2024)
• Palayakkaran Street: Rs 4,900 per sq.ft (2024)
• Palayakkaran Iind street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Palliarasan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Palliarasan Street?

The Sub Registrar Office that covers Palliarasan Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is crucial when registering a property in Ayanavaram, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid at the time of property transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is important for both the buyer and seller. It also helps in maintaining transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Palliarasan Street?

The current guideline value of Palliarasan Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 308% over the years.

What is the median guideline value in Ayanavaram?

The median guideline value in Ayanavaram is Rs 4,900 per sq.ft, which is the same as the current value for Palliarasan Street.

What are the stamp duty and registration fees for Palliarasan Street?

The stamp duty for a property valued at Rs 49,00,000 would be Rs 3,43,000, and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which office handles registrations for Palliarasan Street?

The AnnaNagar Sub Registrar Office handles registrations for Palliarasan Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.