Guideline Value for Polytechnic Road

Polytechnic Road guideline value

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

How the guideline value of Polytechnic Road has changed

The guideline value for Polytechnic Road has undergone several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 369 per sq.ft. This figure increased to Rs 500 per sq.ft in 2003, marking a 36% rise. The value then saw significant growth, reaching Rs 2,000 per sq.ft in 2007, which was a 300% increase from the previous figure. In 2012, the guideline value was Rs 3,500 per sq.ft, showing a 75% increase from 2007. However, it decreased by 33% to Rs 2,345 per sq.ft in 2017. The value then rose to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,900 per sq.ft in 2024, an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 957%. The register has no figures for years not mentioned in the provided data.

Guideline values in Pallipattu

Pallipattu village has a total of 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 Polytechnic Road's 2024 figure below that median.

• Polytechnic Main Road: Rs 3,900 per sq.ft (2024)
• Polytechnic 1st Cross Street: 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 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's 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 for more details.

Which Sub Registrar Office covers Polytechnic Road?

The Sub Registrar Office covering Polytechnic Road is 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 in the registration process when buying or selling property in Pallipattu. It determines the minimum value at which the property must be registered, ensuring that the transaction is recorded accurately for tax purposes.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Polytechnic Road?

The current guideline value of Polytechnic 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 changed from Rs 369 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 957% over this period.

What is the registration office for Polytechnic Road?

The registration office for Polytechnic Road is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for properties on Polytechnic Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 2,73,000.

Are there other streets in Pallipattu with similar guideline values?

Yes, other streets in Pallipattu have guideline values that range from Rs 3,300 to Rs 15,400 per sq.ft, with several streets listed at Rs 3,900 per sq.ft in 2024.