Guideline Value for INDIRA NAGAR PALLVAN STREET

Indira Nagar Pallvan Street guideline value

The current guideline value of Indira Nagar Pallvan Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Indira Nagar Pallvan Street has changed

The guideline value for Indira Nagar Pallvan Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, followed by a decrease to Rs 1,005 per sq.ft in 2017. The 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision has raised it to Rs 1,600 per sq.ft, marking an increase of 7% from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. The changes between revisions show a significant increase of 49% from 2017 to 2023, while there was a decrease of 33% from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,725 per sq.ft, placing Indira Nagar Pallvan Street's current value below this median.

• Indira Nagar Oodai Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Pandian Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Narashimman Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar M.G.R. Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Periyar Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Masuthi Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar Pallvan Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. 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 Indira Nagar Pallvan Street?

The Sub Registrar Office that covers Indira Nagar Pallvan Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Perumbakkam. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Indira Nagar Pallvan Street?

The current guideline value of Indira Nagar Pallvan Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, with various fluctuations in between, including a decrease in 2017 and increases in 2023 and 2024.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

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

The stamp duty for properties in Indira Nagar Pallvan Street is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the appropriate fees are collected based on the property's value.