Guideline Value for Palliyappan Lane

Palliyappan Lane guideline value

The current guideline value of Palliyappan Lane in Muthiyalpet village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Sowcarpet Sub Registrar Office and is classified as Residential Class I Type - I.

How the guideline value of Palliyappan Lane has changed

The guideline value of Palliyappan Lane has seen several revisions over the years. In 2007, the guideline value was Rs 1,200 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, it decreased to Rs 2,680 per sq.ft in 2017. The value then rose to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2007 to 2012 represented a substantial increase of 233%, while the decrease from 2012 to 2017 was 33%. Overall, from 2007 to 2024, the guideline value has increased by 267%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value, ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is equal to the current value of Palliyappan Lane.

• Palliyappan Street: Rs 4,400 per sq.ft (2024)
• Pannaikaran Andiappan Street: Rs 3,800 per sq.ft (2024)
• Paramanatha Mudali Street: Rs 4,900 per sq.ft (2024)
• Paramasiva Chetty Street: Rs 4,400 per sq.ft (2024)
• Palaiyappan Street: Rs 4,400 per sq.ft (2024)
• Padriya Garden Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Palliyappan Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Palliyappan Lane?

The Sub Registrar Office covering Palliyappan Lane is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Muthiyalpet. It is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is considered to ensure that the appropriate fees are collected. Buyers should be aware that the registration office will charge fees based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Palliyappan Lane?

The current guideline value of Palliyappan Lane is Rs 4,400 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 4,400 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Palliyappan Lane?

Palliyappan Lane is classified as Residential Class I Type - I, which is relevant for property transactions and valuations.

Where can I find the Sub Registrar Office for Palliyappan Lane?

The Sub Registrar Office for Palliyappan Lane is located at No.11, Davidson Street, Sowcarpet, Chennai-01.

How is stamp duty calculated for properties in Muthiyalpet?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000.