Guideline Value for SCHOOL ROAD (PALLIKOODAM SALAI)

School Road (Pallikoodam Salai) guideline value

The current guideline value for School Road (Pallikoodam Salai) is Rs 5,800 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village and falls under the Kodambakkam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of School Road (Pallikoodam Salai) has changed

Over the years, the guideline value for School Road (Pallikoodam Salai) has seen significant changes. In the 2003 revision, the value was Rs 1,391 per sq.ft. This increased to Rs 1,650 per sq.ft in 2007, marking a rise of 19%. The 2012 revision saw a substantial increase to Rs 5,300 per sq.ft, which was a 221% jump. However, the value then decreased to Rs 3,551 per sq.ft in 2017, reflecting a decline of 33%. The 2023 revision brought the value back up to Rs 5,300 per sq.ft, and the most recent 2024 revision set it at Rs 5,800 per sq.ft, a 9% increase from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 317%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, which is equal to the current guideline value for School Road (Pallikoodam Salai).

• Sbi Officers Colony: Rs 7,100 per sq.ft (2024)
• Sathyapuri Street: Rs 7,100 per sq.ft (2024)
• Sathya Narayanan Street: Rs 5,800 per sq.ft (2024)
• Sathya Narayanan Lane: Rs 5,800 per sq.ft (2024)
• Sathyamurthy Street: Rs 4,400 per sq.ft (2024)
• Sasthri Nagar: Rs 5,800 per sq.ft (2024)

Stamp duty and registration fee for property in School Road (Pallikoodam Salai)

For a 1,000 sq.ft plot at the current rate of Rs 5,800 per sq.ft, the guideline value would be Rs 58,00,000. The stamp duty at 7% would be Rs 4,06,000, and the registration fee at 2% would be Rs 1,16,000, making the total Rs 5,22,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers School Road (Pallikoodam Salai)?

The Sub Registrar Office that covers School Road (Pallikoodam Salai) is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Puliyur. It is used to calculate the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that the guideline value may differ from the actual sale price of the property.

When a property is registered, the stamp duty is calculated based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of School Road (Pallikoodam Salai)?

The current guideline value of School Road (Pallikoodam Salai) is Rs 5,800 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 1,391 per sq.ft in 2003 to Rs 5,800 per sq.ft in 2024, reflecting an overall increase of 317% over this period.

What is the land classification for School Road (Pallikoodam Salai)?

The land classification for School Road (Pallikoodam Salai) is Residential Class I Type - I, indicating its designation for residential use.

What are the stamp duty rates applicable for properties in this area?

The stamp duty for properties in this area is charged at 7% of the guideline value or the sale price, whichever is higher. Registration fees are charged at 2%.

Where can I find the Sub Registrar Office for School Road (Pallikoodam Salai)?

The Sub Registrar Office covering School Road (Pallikoodam Salai) is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.