Guideline Value for PALLAVAN NAGAR 2ND STREET

Pallavan Nagar 2nd Street guideline value

The current guideline value of Pallavan Nagar 2nd Street is Rs 990 per sq.ft, effective from 1 July 2024. This street is located in Paleripattu village under the Avadi SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Pallavan Nagar 2nd Street has changed

The guideline value for Pallavan Nagar 2nd Street has undergone several revisions over the years. In 2012, the value was set at Rs 900 per sq.ft. This figure remained until the next revision in 2017, where it decreased to Rs 603 per sq.ft, marking a decline of 33%. However, the value saw a significant increase in the following revisions, rising to Rs 900 per sq.ft in 2023, and then to Rs 990 per sq.ft in 2024, which reflects a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Paleripattu

Paleripattu village has a total of 111 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 801 to Rs 4,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, which is equal to the current guideline value of Pallavan Nagar 2nd Street.

• Pallavan Nagar 1st Street: Rs 990 per sq.ft (2024)
• Pallavan Nagar 3rd Street: Rs 990 per sq.ft (2024)
• Pallavan Nagar Main Road: Rs 990 per sq.ft (2024)
• Palla St: Rs 990 per sq.ft (2024)
• Pallikooda St: Rs 990 per sq.ft (2024)
• Pandit Nehru St: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Pallavan Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, totaling Rs 89,100. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pallavan Nagar 2nd Street?

The Sub Registrar Office that covers Pallavan Nagar 2nd Street is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Paleripattu. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation rather than fluctuating market prices.

When a property is registered, the guideline value is used to determine the applicable fees, which can significantly impact the overall cost of the transaction. Buyers and sellers should be aware of the guideline value to accurately assess their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Pallavan Nagar 2nd Street?

The current guideline value of Pallavan Nagar 2nd Street is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification for Pallavan Nagar 2nd Street?

Pallavan Nagar 2nd Street falls under the Residential Class II Type - I land classification.

Where can I find the Sub Registrar Office for Pallavan Nagar 2nd Street?

The Avadi Sub Registrar Office covers Pallavan Nagar 2nd Street, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is stamp duty calculated for properties in Pallavan Nagar 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 9,90,000, the stamp duty at 7% would amount to Rs 69,300.