Guideline Value for palavoyal Road

palavoyal Road guideline value

The current guideline value of palavoyal Road in Ayanavaram village is Rs 4,900 per sq.ft, effective from 1 July 2024. This street falls under the AnnaNagar SRO and is classified as Residential Class I Type - III.

How the guideline value of palavoyal Road has changed

Over the years, the guideline value of palavoyal Road has seen significant changes. In the 2002 revision, the value was Rs 884 per sq.ft, which increased to Rs 992 per sq.ft in 2003, marking a 12% rise. The value continued to rise, reaching Rs 1,200 per sq.ft in 2007, an increase of 21%. From 2007 to 2012, the value surged to Rs 4,500 per sq.ft, reflecting a substantial increase of 275%. However, in the 2017 revision, the value dropped to Rs 3,015 per sq.ft, a decrease of 33%. The value then increased to Rs 4,500 per sq.ft in 2023, before reaching the current figure of Rs 4,900 per sq.ft in 2024, a rise of 9%.

Overall, from 2002 to 2024, the guideline value has increased by 454%. The revisions for the years 2012, 2017, and 2023 show a clear trajectory of value changes, with no figures available for any other years in the register for this street.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with the 2024 guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, which is the same as the current value for palavoyal Road.

• Palavoyal Street, Chennai 82: Rs 4,400 per sq.ft (2024)
• Palayakaran Ist Street: Rs 4,900 per sq.ft (2024)
• Palayakkaran Iind street: Rs 4,900 per sq.ft (2024)
• Palayakkaran Street: Rs 4,900 per sq.ft (2024)
• Palayam Pillai Nagar: Rs 4,400 per sq.ft (2024)
• Palayam Pillai Nagar 2nd Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in palavoyal Road

For a 1,000 sq.ft plot at the current rate of Rs 4,900 per sq.ft, the guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, totaling Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers palavoyal Road?

The Sub Registrar Office that covers palavoyal Road is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ayanavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value will be compared with the sale price, and the duty will be charged on the higher of the two amounts. This ensures that the transaction is registered at a value that reflects the official guideline set by the authorities.

Frequently asked questions

What is the current guideline value of palavoyal Road?

The current guideline value of palavoyal Road is Rs 4,900 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 884 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 454% over this period.

What are the stamp duty rates for properties in Ayanavaram?

The stamp duty rate for properties in Ayanavaram is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Ayanavaram?

The median guideline value for streets in Ayanavaram is Rs 4,900 per sq.ft, which is the same as the current value for palavoyal Road.