Guideline Value for PALLAVAN NAGAR 1 TO 3 CROSS STREET

Pallavan Nagar 1 To 3 Cross Street guideline value

The current guideline value for Pallavan Nagar 1 To 3 Cross Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Kilkattalai village, under the Pallavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Pallavan Nagar 1 To 3 Cross Street has changed

The guideline value for Pallavan Nagar 1 To 3 Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 1,800 per sq.ft. This was followed by a decrease to Rs 1,206 per sq.ft in 2017, marking a decline of 33%. However, the value increased significantly to Rs 1,800 per sq.ft in 2023, and then further rose to Rs 1,980 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, placing the 2024 figure for Pallavan Nagar 1 To 3 Cross Street below the median.

• Pallavan Nagar: Rs 1,980 per sq.ft (2024)
• Pallavaram Duraipakkam Link Road (200 Feet Road): Rs 3,300 per sq.ft (2024)
• Pallavarm Thuraipakkam Radieal Road: Rs 3,300 per sq.ft (2024)
• Pandiyan Nagar: Rs 2,160 per sq.ft (2024)
• Parri Colony: Rs 2,530 per sq.ft (2024)
• Pattammal Colony: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Pallavan Nagar 1 To 3 Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Pallavan Nagar 1 To 3 Cross Street?

The Sub Registrar Office that covers Pallavan Nagar 1 To 3 Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kilkattalai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid, ensuring that these costs are calculated based on a standardized value set by the government.

When a property is sold, the guideline value helps in establishing the minimum value at which the property can be registered. This means that buyers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value for Pallavan Nagar 1 To 3 Cross Street?

The current guideline value for Pallavan Nagar 1 To 3 Cross Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification for Pallavan Nagar 1 To 3 Cross Street?

Pallavan Nagar 1 To 3 Cross Street is classified as Residential Class II Type - I.

Where can I find the registration office for this area?

The registration office for Pallavan Nagar 1 To 3 Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 at 7%.