Guideline Value for Periya Palaiyathamman Koil Lane

Periya Palaiyathamman Koil Lane guideline value

The current guideline value of Periya Palaiyathamman Koil Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This lane is located in Parangimalai village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - II.

How the guideline value of Periya Palaiyathamman Koil Lane has changed

The guideline value for Periya Palaiyathamman Koil Lane has seen several revisions over the years. In the 2002 revision, the value was Rs 368 per sq.ft. This increased to Rs 460 per sq.ft in 2003, followed by a significant rise to Rs 800 per sq.ft in 2007. The 2012 revision saw a decrease to Rs 3,000 per sq.ft, which was then followed by a drop to Rs 2,010 per sq.ft in 2017. The guideline value rose again in 2023 to Rs 3,000 per sq.ft, and most recently, it has been set at Rs 3,300 per sq.ft in the 2024 revision.

Between the revisions, there have been notable changes. From 2002 to 2003, the increase was +25%, while from 2003 to 2007, it rose by +74%. The value then surged by +275% from 2007 to 2012. Following this, there was a decrease of -33% from 2012 to 2017, and a significant increase of +49% from 2017 to 2023. The most recent change from 2023 to 2024 is an increase of +10%. Overall, from 2002 to 2024, the guideline value has increased by +797%.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, placing Periya Palaiyathamman Koil Lane's 2024 figure below that median.

• Periya Palaiyathamman Koil Street: Rs 3,300 per sq.ft (2024)
• P.C.M. Colony: Rs 3,300 per sq.ft (2024)
• Pattai Street: Rs 2,750 per sq.ft (2024)
• Periyar Street: Rs 3,850 per sq.ft (2024)
• Parracks Road: Rs 2,750 per sq.ft (2024)
• Perumal Koil Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Periya Palaiyathamman Koil Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total charges to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Periya Palaiyathamman Koil Lane?

The Sub Registrar Office that covers Periya Palaiyathamman Koil Lane is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Parangimalai. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased. When registering a property, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

During the registration process, if the sale price of the property is higher than the guideline value, the stamp duty is calculated based on the sale price. Conversely, if the sale price is lower, the duty is charged based on the guideline value, ensuring that the government receives the appropriate fees for the transaction.

Frequently asked questions

What is the current guideline value of Periya Palaiyathamman Koil Lane?

The current guideline value of Periya Palaiyathamman Koil Lane is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 368 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +797% over the years.

What is the classification of land in Periya Palaiyathamman Koil Lane?

Periya Palaiyathamman Koil Lane is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for this lane?

The Sub Registrar Office for Periya Palaiyathamman Koil Lane is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 33,00,000, the stamp duty would be calculated accordingly.