Guideline Value for Pallikuda Street

Pallikuda Street guideline value

The current guideline value of Pallikuda Street in Irumpuliyur village, under the Tambaram Joint 1 SRO, is Rs 2,530 per sq.ft, effective from 1 July 2024. This classification falls under Residential Special Type - I.

How the guideline value of Pallikuda Street has changed

The guideline value for Pallikuda Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 600 per sq.ft, which increased significantly to Rs 2,300 per sq.ft in 2012, marking a rise of 283%. However, the value dropped to Rs 1,541 per sq.ft in the 2017 revision, a decrease of 33%. The value then increased to Rs 2,300 per sq.ft in the 2023 revision, followed by a rise to the current value of Rs 2,530 per sq.ft in the 2024 revision, reflecting a 10% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 322%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Irumpuliyur

In Irumpuliyur village, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making Pallikuda Street's 2024 figure above that median.

• Palar Street: Rs 2,200 per sq.ft (2024)
• Parali Nellaiappar Street: Rs 2,530 per sq.ft (2024)
• O.U.Saminatha Street: Rs 3,850 per sq.ft (2024)
• Periyar Nagar: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 10-th Street: Rs 3,300 per sq.ft (2024)
• Periyar Nagar 1-st Cross St: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pallikuda Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total cost for these fees to Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pallikuda Street?

The Sub Registrar Office that covers Pallikuda Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Irumpuliyur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value serves as a reference point for both parties. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Pallikuda Street?

The current guideline value of Pallikuda Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 600 per sq.ft in 2007 to Rs 2,530 per sq.ft in 2024, marking an overall increase of 322% over the years.

What is the land classification for Pallikuda Street?

Pallikuda Street is classified as Residential Special Type - I, which influences its guideline value.

Where can I find the registration office for Pallikuda Street?

The registration office for Pallikuda Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Pallikuda Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100 at 7%.