Guideline Value for Periya Palayathamman Koil Street

Periya Palayathamman Koil Street guideline value

The current guideline value of Periya Palayathamman Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Cantonment Pallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - II.

How the guideline value of Periya Palayathamman Koil Street has changed

Over the years, the guideline value of Periya Palayathamman Koil Street has seen significant changes. The earliest recorded revision is from 2003, where the value was Rs 578 per sq.ft. This increased to Rs 750 per sq.ft in 2007, marking a 30% rise. The value then surged to Rs 3,000 per sq.ft in 2012, reflecting a remarkable increase of 300%. However, in 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The guideline value rose again to Rs 3,000 per sq.ft in 2023, before reaching the current rate of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 471%. It is important to note that the register does not have a figure for the year 2002 for this street.

Guideline values in Cantonment Pallavaram

In Cantonment Pallavaram, there are 81 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median value among these streets is Rs 2,700 per sq.ft, placing Periya Palayathamman Koil Street above this median.

• Pensioners Road & Street: Rs 1,650 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 3,850 per sq.ft (2024)
• Pandian Street: Rs 2,700 per sq.ft (2024)
• Police Lane: Rs 2,700 per sq.ft (2024)
• Poniyamman Koil Street: Rs 2,700 per sq.ft (2024)
• P.A. Jaganathan Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Periya Palayathamman Koil Street

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, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration fee would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Periya Palayathamman Koil Street?

The Sub Registrar Office that covers Periya Palayathamman Koil Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Cantonment Pallavaram. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

It is essential for buyers and sellers to understand the guideline value, as it directly impacts the overall cost of property transactions. Ensuring that the correct guideline value is applied can help avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Periya Palayathamman Koil Street?

The current guideline value of Periya Palayathamman Koil Street 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 significantly, from Rs 578 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 471% over the years.

What is the land classification for Periya Palayathamman Koil Street?

Periya Palayathamman Koil Street is classified as Residential Class I Type - II.

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

The Sub Registrar Office for Periya Palayathamman Koil Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 33,00,000, the total stamp duty and registration fees would amount to Rs 2,97,000.