Guideline Value for Palvadi Street

Palvadi Street guideline value

The current guideline value of Palvadi Street in Sekkadu village, under the Avadi SRO, is Rs 1,075 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Palvadi Street has changed

The guideline value for Palvadi Street has undergone several revisions over the years. The earliest recorded revision is from 2012, when the value was Rs 1,000 per sq.ft. In 2017, this value decreased by 33% to Rs 670 per sq.ft. The 2023 revision saw a significant increase of 49%, bringing the value back up to Rs 1,000 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 1,075 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that there are no figures available for Palvadi Street in the revisions from 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Sekkadu

In Sekkadu, there are 56 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 930 to Rs 4,800 per sq.ft. The median guideline value in this area is Rs 1,320 per sq.ft, which means that the guideline value of Palvadi Street is below this median.

• Palla Theru: Rs 1,075 per sq.ft (2024)
• Ponnambalam Nagar: Rs 1,320 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 1,320 per sq.ft (2024)
• M.T.H.Road: Rs 2,250 per sq.ft (2024)
• Mettu Street: Rs 1,075 per sq.ft (2024)
• Mettu Sekkadu: Rs 1,075 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 1,075 per sq.ft, the total guideline value would be Rs 10,75,000. The stamp duty at 7% would amount to Rs 75,250, and the registration fee at 2% would be Rs 21,500, bringing the total cost for these fees to Rs 96,750. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Palvadi Street?

The Sub Registrar Office that covers Palvadi Street is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process for property transactions in Sekkadu. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements during the registration process.

When a property is sold, the guideline value is compared with the sale price to determine the applicable duty. The higher of the two values is used to calculate the stamp duty, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Palvadi Street?

The current guideline value of Palvadi Street is Rs 1,075 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 in 2012 to Rs 670 in 2017, then back to Rs 1,000 in 2023, and finally to Rs 1,075 in 2024.

What is the land classification for Palvadi Street?

Palvadi Street is classified as Residential Class II Type - II.

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

The Sub Registrar Office for Palvadi Street is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is stamp duty calculated for properties in Palvadi Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a property valued at Rs 10,75,000, the stamp duty would be Rs 75,250 at 7%.