Guideline Value for PALLAVAN NAGAR & P.T.C.QUARTERS

Pallavan Nagar & P.T.C.Quarters guideline value

The current guideline value for Pallavan Nagar & P.T.C.Quarters is Rs 3,900 per sq.ft, effective from 1 July 2024. This area is located in Okkiyamthuraipakkam village under the Neelankarai SRO and is classified as Residential Class I Type - II.

How the guideline value of Pallavan Nagar & P.T.C.Quarters has changed

The guideline value has seen several revisions over the years. In 2003, the value was Rs 194 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2007. The value then rose dramatically to Rs 3,500 per sq.ft in 2012, before dropping to Rs 2,345 per sq.ft in 2017. The 2023 revision set the value at Rs 3,500 per sq.ft, and the latest revision in 2024 has increased it to Rs 3,900 per sq.ft, marking an increase of 11% from the previous year.

Between the years, the guideline value has fluctuated considerably. The increase from 2017 to 2023 was 49%, while the drop from 2012 to 2017 was 33%. The rise from 2007 to 2012 was a remarkable 338%, and from 2003 to 2007, the increase was 312%. Overall, from 2003 to 2024, the guideline value has increased by 1910%. The register has no figure for the year 2002 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing the guideline value of Pallavan Nagar & P.T.C.Quarters above this median.

• Pallavan Street: Rs 3,300 per sq.ft (2024)
• Palmera Garden: Rs 1,700 per sq.ft (2024)
• PALLAVAN KUDI IRUPPU VIA 2nd STREET 3rd STREET: Rs 3,900 per sq.ft (2024)
• Pallavan Kudi Iruppu Via 1 St Street: Rs 3,900 per sq.ft (2024)
• Pamban Baba Nagar: Rs 2,200 per sq.ft (2024)
• Panchayat Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pallavan Nagar & P.T.C.Quarters

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, totaling Rs 3,51,000. It is 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 detailed calculations.

Which Sub Registrar Office covers Pallavan Nagar & P.T.C.Quarters?

The Neelankarai Sub Registrar Office covers Pallavan Nagar & P.T.C.Quarters. The office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Okkiyamthuraipakkam. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value serves as a benchmark for the transaction. If the sale price is higher than the guideline value, the duty is calculated based on the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Pallavan Nagar & P.T.C.Quarters?

The current guideline value for Pallavan Nagar & P.T.C.Quarters 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 194 per sq.ft in 2003 to Rs 3,900 per sq.ft in 2024, showing significant increases and some fluctuations over the years.

What is the median guideline value in Okkiyamthuraipakkam?

The median guideline value in Okkiyamthuraipakkam is Rs 3,300 per sq.ft, with Pallavan Nagar & P.T.C.Quarters above this median at Rs 3,900 per sq.ft.

What are the stamp duty and registration fees for properties in Pallavan Nagar & P.T.C.Quarters?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 3,51,000.

Which office handles registrations for Pallavan Nagar & P.T.C.Quarters?

The Neelankarai Sub Registrar Office handles registrations for Pallavan Nagar & P.T.C.Quarters, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.