Guideline Value for Palpannai Salai

Palpannai Salai guideline value

The current guideline value of Palpannai Salai is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Commercial Class I Type - I.

How the guideline value of Palpannai Salai has changed

The guideline value for Palpannai Salai has undergone several revisions over the years. In 2012, the guideline value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. Following this, the value rose significantly to Rs 3,000 per sq.ft in 2023, and then to Rs 3,301 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the value has seen a 10% increase. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft as of 2024. The median guideline value for the village is Rs 2,700 per sq.ft, placing Palpannai Salai's 2024 figure above this median.

• Palani Street: Rs 2,200 per sq.ft (2024)
• Park Street: Rs 2,200 per sq.ft (2024)
• Padmavathy Street: Rs 2,200 per sq.ft (2024)
• Padmavathi Street (Krishanmoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Parthasarathy Reddiar Street: Rs 2,700 per sq.ft (2024)
• Om Sakthi Vinayagar Koil Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Palpannai Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value would be Rs 33,01,000. The stamp duty at 7% would amount to Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, bringing the total to Rs 2,97,090. 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 our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Palpannai Salai?

The Sub Registrar Office that covers Palpannai Salai is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation of properties. Buyers and sellers should be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Palpannai Salai?

The current guideline value of Palpannai Salai is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,301 per sq.ft in 2024.

What is the land classification of Palpannai Salai?

Palpannai Salai is classified as Commercial Class I Type - I under the Madhavaram SRO.

What are the stamp duty and registration fees for property in Palpannai Salai?

For a property valued at Rs 33,01,000, the stamp duty would be Rs 2,31,070 and the registration fee would be Rs 66,020, totaling Rs 2,97,090.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.