Guideline Value for Sri Paleeswarar Nagar

Sri Paleeswarar Nagar guideline value

The current guideline value of Sri Paleeswarar Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Grandlyon village and falls under the Redhills SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Sri Paleeswarar Nagar has changed

The guideline value of Sri Paleeswarar Nagar has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased to Rs 400 per sq.ft in 2012, marking a 100% rise. However, from 2012 to 2017, the value decreased to Rs 268 per sq.ft, a drop of 33%. The value then increased significantly to Rs 400 per sq.ft in 2023, and currently stands at Rs 440 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 120%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Grandlyon

In Grandlyon, there are 82 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft, with a median value of Rs 660 per sq.ft. The guideline value for Sri Paleeswarar Nagar is below this median.

• Sripal Nagar: Rs 440 per sq.ft (2024)
• Sri Ramakirshna Garden: Rs 440 per sq.ft (2024)
• Sri Ramakrishna Garden Annex: Rs 880 per sq.ft (2024)
• Sri Ram Nagar: Rs 440 per sq.ft (2024)
• Sri Ram Nagar Annex: Rs 440 per sq.ft (2024)
• Sri Lakshmi Garden: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Paleeswarar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty is charged at 7%, which totals Rs 30,800, and the registration fee is 2%, amounting to Rs 8,800. Together, these fees come to Rs 39,600. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Paleeswarar Nagar?

The Sub Registrar Office that covers Sri Paleeswarar Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for additional information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Grandlyon. It serves as a benchmark for calculating the stamp duty and registration fees that are payable at the time of registration.

When a property is sold, the guideline value helps determine the minimum value on which these fees will be calculated. Buyers and sellers should be aware that the fees are based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of Sri Paleeswarar Nagar?

The current guideline value of Sri Paleeswarar Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, showing an overall increase of 120% over the years.

What are the stamp duty and registration fees for property in Sri Paleeswarar Nagar?

For a property valued at Rs 4,40,000, the stamp duty is Rs 30,800 and the registration fee is Rs 8,800, totaling Rs 39,600.

Which Sub Registrar Office covers Sri Paleeswarar Nagar?

The Redhills Sub Registrar Office covers Sri Paleeswarar Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is based on the higher of the guideline value or the sale price.