Guideline Value for Paul Alaya Street

Paul Alaya Street guideline value

The current guideline value of Paul Alaya Street is Rs 2,970 per sq.ft, effective from 1 July 2024. This street is located in Mogalivakkam village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Paul Alaya Street has changed

Over the years, the guideline value of Paul Alaya Street has seen several revisions. The 2007 revision set the value at Rs 450 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012, marking a 500% rise. However, the value decreased to Rs 1,809 per sq.ft in 2017, reflecting a 33% drop. The 2023 revision brought the value back up to Rs 2,700 per sq.ft, and the latest revision in 2024 has set it at Rs 2,970 per sq.ft, a 10% increase from the previous year.

Notably, the register does not contain figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the current 2024 figure, there has been a remarkable increase of 560%.

Guideline values in Mogalivakkam

Mogalivakkam village has a total of 98 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,530 to Rs 6,600 per sq.ft, with a median value of Rs 2,970 per sq.ft. Paul Alaya Street's 2024 guideline value aligns perfectly with this median.

• Perumal Koil Street: Rs 2,970 per sq.ft (2024)
• Pallavan Nagar: Rs 2,970 per sq.ft (2024)
• Nithyasri Gardens - Phase-1: Rs 4,500 per sq.ft (2024)
• Rajambal Nagar: Rs 2,970 per sq.ft (2024)
• Natarajan Avenue: Rs 2,970 per sq.ft (2024)
• Rajeswari Nagar Phase II: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Paul Alaya Street

For a 1,000 sq.ft plot at the current rate of Rs 2,970 per sq.ft, the guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total to Rs 2,67,300. 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 to estimate fees for your property transactions.

Which Sub Registrar Office covers Paul Alaya Street?

The Sub Registrar Office that covers Paul Alaya Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Mogalivakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that all transactions are conducted transparently and fairly. It is crucial for both parties to be aware of the current guideline value to avoid any legal complications.

Frequently asked questions

What is the current guideline value of Paul Alaya Street?

The current guideline value of Paul Alaya Street is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 450 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, reflecting an overall increase of 560% over the years.

What are the stamp duty and registration fees for properties on this street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,67,300, based on the current guideline value.

Which office handles registrations for Paul Alaya Street?

The Kunrathur Sub Registrar Office handles registrations for Paul Alaya Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Paul Alaya Street?

Paul Alaya Street is classified as Residential Special Type - I, which indicates its designated use for residential purposes.