Guideline Value for Palvadi Street

Palvadi Street guideline value

The current guideline value of Palvadi Street in Mannoor village, under the Sriperumpudur SRO, is Rs 200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Palvadi Street has changed

In the 2012 revision, the guideline value was set at Rs 200 per sq.ft. This figure remained unchanged in the subsequent revisions of 2017 and 2023. However, in the 2017 revision, the value had previously dropped to Rs 134 per sq.ft from Rs 200 per sq.ft in 2012, marking a decrease of 33%. From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 200 per sq.ft. The 2024 revision again maintains this value with no change from the previous year.

The register does not provide figures for the years 2002, 2003, and 2007 for Palvadi Street.

Guideline values in Mannoor

In Mannoor village, there are 56 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 1,500 per sq.ft. The median value for these streets is Rs 250 per sq.ft, indicating that Palvadi Street's 2024 figure is below this median.

• Pallikuda Street: Rs 200 per sq.ft (2024)
• Pachiappan Nagar: Rs 250 per sq.ft (2024)
• Perumal Koil Street: Rs 200 per sq.ft (2024)
• Ochan street: Rs 250 per sq.ft (2024)
• Polatchiyamman Koil Street: Rs 200 per sq.ft (2024)
• Nemili Road: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Palvadi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, leading to a total of Rs 18,000. 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 detailed estimations.

Which Sub Registrar Office covers Palvadi Street?

The Sub Registrar Office that covers Palvadi Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Mannoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that government revenues from stamp duty and registration fees are accurately collected.

When buying or selling property, the guideline value will be used to calculate the applicable stamp duty and registration fees. This means that buyers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Palvadi Street?

The current guideline value of Palvadi Street is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revisions being Rs 200 per sq.ft in both 2023 and 2024. The value was Rs 134 per sq.ft in 2017, which was a decrease from Rs 200 per sq.ft in 2012.

What is the land classification for Palvadi Street?

The land classification for Palvadi Street is Residential Class III Type - I, indicating its designation for residential purposes.

What is the stamp duty rate for property in Palvadi Street?

The stamp duty rate for property transactions in Palvadi Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Palvadi Street?

The Sub Registrar Office for Palvadi Street is located at 27, Chetty Street, Sriperumpudur-602 105, in the Chengalpattu registration zone.