Guideline Value for Polytechnic 1st Cross Street

Polytechnic 1st Cross Street guideline value

The current guideline value of Polytechnic 1st Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Pallipattu village under the Adayar SRO, classified as Residential Class III Type - I.

How the guideline value of Polytechnic 1st Cross Street has changed

The guideline value for Polytechnic 1st Cross Street has seen several revisions over the years. In 2002, the guideline value was Rs 369 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2003, marking a 36% rise. The value continued to climb, reaching Rs 2,000 per sq.ft in 2007, which was a substantial 300% increase from the previous figure. By 2012, the guideline value was Rs 3,500 per sq.ft, reflecting a decrease of 33% from 2007.

In 2017, the value rose again to Rs 2,345 per sq.ft, and this was followed by a significant increase to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft, an 11% increase from 2023. Overall, from 2002 to 2024, the guideline value has increased by 957%.

Guideline values in Pallipattu

Pallipattu village has 72 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft, with a median value of Rs 9,400 per sq.ft. The guideline value for Polytechnic 1st Cross Street is below this median.

• Polytechnic Main Road: Rs 3,900 per sq.ft (2024)
• Polytechnic Road: Rs 3,900 per sq.ft (2024)
• Perumal Koil Street: Rs 3,300 per sq.ft (2024)
• Perumal Koil 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Rukmani Nagar: Rs 5,000 per sq.ft (2024)
• Nehru Nagar 4th Street: Rs 9,400 per sq.ft (2024)

Stamp duty and registration fee for property in Polytechnic 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees to Rs 3,51,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Polytechnic 1st Cross Street?

The Polytechnic 1st Cross Street falls under the jurisdiction of the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Pallipattu. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Polytechnic 1st Cross Street?

The current guideline value of Polytechnic 1st Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 369 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, showing a significant overall increase of 957%.

What is the median guideline value in Pallipattu village?

The median guideline value in Pallipattu village is Rs 9,400 per sq.ft, while Polytechnic 1st Cross Street's value is below this median.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.