Guideline Value for Palvaddi Street

Palvaddi Street guideline value

The current guideline value of Palvaddi Street is Rs 181 per sq.ft, effective from 1 July 2024. This street is located in Mettupalayam village and falls under the Sunguvarchattram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Palvaddi Street has changed

In the 2012 revision, the guideline value was set at Rs 180 per sq.ft. This figure saw a decrease of 33% to Rs 121 per sq.ft in the 2017 revision. Following this, the value increased by 50% to Rs 181 per sq.ft in the 2023 revision, which has remained unchanged in the 2024 revision, showing a 0% change from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for Palvaddi Street. Therefore, the only revisions with recorded values are from 2012, 2017, 2023, and 2024.

Guideline values in Mettupalayam

In Mettupalayam, there are 45 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 181 to Rs 900 per sq.ft. The median guideline value for these streets is Rs 181 per sq.ft, which is equal to the current value of Palvaddi Street.

• Palnallur Road: Rs 181 per sq.ft (2024)
• PalliKooda Street: Rs 200 per sq.ft (2024)
• Panruti Main Road: Rs 200 per sq.ft (2024)
• Palash: Rs 500 per sq.ft (2024)
• Peria Pallaiyathamman Street: Rs 181 per sq.ft (2024)
• Ragala Kanni Theru: Rs 181 per sq.ft (2024)

Stamp duty and registration fee for property in Palvaddi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 181 per sq.ft, the total guideline value amounts to Rs 1,81,000. The stamp duty at 7% would be Rs 12,670, and the registration fee at 2% would be Rs 3,620, resulting in a total of Rs 16,290. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Palvaddi Street?

The Sub Registrar Office that covers Palvaddi Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Mettupalayam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark. Buyers should be aware that the stamp duty and registration fees are calculated based on this value or the sale price, whichever is higher, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Palvaddi Street?

The current guideline value of Palvaddi Street is Rs 181 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 180 per sq.ft in 2012 to Rs 121 per sq.ft in 2017, then increased to Rs 181 per sq.ft in 2023, remaining the same in 2024.

What is the land classification for Palvaddi Street?

The land classification for Palvaddi Street is Residential Class II Type - I.

Where is the Sub Registrar Office for Palvaddi Street located?

The Sub Registrar Office for Palvaddi Street is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 12,670.