Guideline Value for Palvadi Street

Palvadi Street guideline value

The current guideline value of Palvadi Street is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Pennaloor village and falls under the Sriperumpudur SRO, classified as Residential Class III Type - I.

How the guideline value of Palvadi Street has changed

Over the years, the guideline value of Palvadi Street has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft. From 2017 to 2023, the value increased by 49% to reach Rs 200 per sq.ft again, and it has remained at this rate through the 2024 revision.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has not changed, remaining at Rs 200 per sq.ft.

Guideline values in Pennaloor

In Pennaloor, there are 35 streets under the Sriperumpudur SRO that carry a guideline value for 2024, ranging from Rs 100 to Rs 1,200 per sq.ft. The median guideline value is Rs 200 per sq.ft, which is equal to the 2024 figure for Palvadi Street.

• Pallikuda Street: Rs 200 per sq.ft (2024)
• Perumal Nagar: Rs 200 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 100 per sq.ft (2024)
• Nehru Street: Rs 100 per sq.ft (2024)
• Power Grid Colony: Rs 200 per sq.ft (2024)
• Prasanthi Nagar - I: Rs 500 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 amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total cost for these fees to 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 calculations.

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 further assistance.

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

The guideline value serves as a benchmark for the registration of property transactions in Pennaloor. When a property is sold, the guideline value is used to calculate the stamp duty and registration fees that need to be paid during the registration process.

It is crucial for buyers and sellers to be aware of the current guideline value as it directly impacts the costs associated with property transactions. Ensuring that the property value aligns with the guideline value can facilitate a smoother registration process.

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 revisions, with the most recent change being from Rs 200 per sq.ft in 2023 to Rs 200 per sq.ft in 2024, indicating no change. The value was Rs 134 per sq.ft in 2017, showing a 49% increase to the current rate.

What is the classification of land on Palvadi Street?

Palvadi Street is classified as Residential Class III Type - I. This classification is significant as it determines the usage and regulations applicable to the property.

What are the stamp duty and registration fees for properties in Palvadi Street?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000. These fees are based on 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, Chengalpattu registration zone. This office handles the registration of property transactions in the area.