Guideline Value for Palvadi Street

Palvadi Street guideline value

The current guideline value of Palvadi Street, located in Erukancherry village under the Madhavaram SRO, is Rs 1,900 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Class V Type - I.

How the guideline value of Palvadi Street has changed

Starting from the 2012 revision, the guideline value for Palvadi Street was Rs 1,800 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 1,206 per sq.ft, marking a change of -33%. In the subsequent 2023 revision, the guideline value increased to Rs 1,800 per sq.ft, and then it rose again to Rs 1,900 per sq.ft in the 2024 revision, reflecting a +6% change from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by +6%. The register has no figures for the years 2002, 2003, and 2007 for Palvadi Street.

Guideline values in Erukancherry

In Erukancherry village, there are 376 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median guideline value in this area is Rs 2,500 per sq.ft, placing Palvadi Street's 2024 figure below that median.

• Panchayat Street: Rs 2,200 per sq.ft (2024)
• Pandian Nagar: Rs 2,200 per sq.ft (2024)
• Pandit Nehru Street: Rs 1,900 per sq.ft (2024)
• Pandurangan Lane: Rs 1,900 per sq.ft (2024)
• Pandurangan Street: Rs 2,200 per sq.ft (2024)
• Pappathi Ammal Koil Street: Rs 2,200 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 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, making the total charges Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Palvadi Street?

The Sub Registrar Office that covers Palvadi Street 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 Erukancherry

The guideline value is a critical factor in property transactions in Erukancherry, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the registration office uses the guideline value to calculate applicable fees, including stamp duty and registration charges. This ensures that the transaction is recorded accurately and reflects the current market standards set by the government.

Frequently asked questions

What is the current guideline value of Palvadi Street?

The current guideline value of Palvadi Street is Rs 1,900 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then rose to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification for Palvadi Street?

The land classification for Palvadi Street is Residential Class V Type - I.

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

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Where is the Sub Registrar Office for Palvadi Street located?

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