Guideline Value for Polytechnic Main Road

Polytechnic Main Road guideline value

The current guideline value of Polytechnic Main Road in Pallipattu village, under the Adayar SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Polytechnic Main Road has changed

The guideline value for Polytechnic Main Road has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 369 per sq.ft. This increased to Rs 500 per sq.ft in 2003, marking a significant rise of 36%. The value then saw a remarkable increase to Rs 2,000 per sq.ft in 2007, which is a 300% jump. Following this, the guideline value rose to Rs 3,500 per sq.ft in 2012, reflecting a 75% increase. However, it decreased to Rs 2,345 per sq.ft in 2017, a decline of 33%. The value then increased to Rs 3,500 per sq.ft in 2023, and finally, it reached Rs 3,900 per sq.ft in 2024, representing an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 957%. There are no figures available for any revisions in the years not mentioned in the register.

Guideline values in Pallipattu

Pallipattu village has 72 streets under the Adayar SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median guideline value for these streets is Rs 9,400 per sq.ft, placing the 2024 figure for Polytechnic Main Road below this median.

• Polytechnic 1st Cross Street: 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 Main Road

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 to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Polytechnic Main Road?

The Polytechnic Main Road is covered by 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 crucial factor when registering property transactions in Pallipattu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, which can impact the total costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Polytechnic Main Road?

The current guideline value of Polytechnic Main Road 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, marking an overall increase of 957% across the years.

What is the land classification for Polytechnic Main Road?

Polytechnic Main Road is classified under Residential Class III Type - I.

What are the stamp duty and registration fees for a property on Polytechnic Main Road?

For a 1,000 sq.ft plot, the total guideline value is 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 can I find the Sub Registrar Office for Polytechnic Main Road?

The Adayar Sub Registrar Office covers Polytechnic Main Road, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.