Guideline Value for PALLAVAN NAGAR 3RD MAIN STREET 2ND CROSS

Pallavan Nagar 3rd Main Street 2nd Cross guideline value

The current guideline value for Pallavan Nagar 3rd Main Street 2nd Cross is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Koladi village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Pallavan Nagar 3rd Main Street 2nd Cross has changed

The guideline value for Pallavan Nagar 3rd Main Street 2nd Cross has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 2,500 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 2,750 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no registered figures for Pallavan Nagar 3rd Main Street 2nd Cross for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Koladi

In Koladi, there are 175 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Pallavan Nagar 3rd Main Street 2nd Cross is above this median, indicating a relatively higher valuation.

• Pallavan Nagar 3rd Main Street 1st Cross: Rs 2,750 per sq.ft (2024)
• Pallavan Nagar 3rd Main Road: Rs 2,750 per sq.ft (2024)
• Pallavan Nagar 3rd Cross Street: Rs 2,750 per sq.ft (2024)
• Pallavan Nagar 4th Cross Street: Rs 2,750 per sq.ft (2024)
• Pallavan Nagar 3rd Avenue Cross Street: Rs 2,750 per sq.ft (2024)
• Pallavan Nagar 3rd Avenue 1,2,3 Cross: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Pallavan Nagar 3rd Main Street 2nd Cross

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Pallavan Nagar 3rd Main Street 2nd Cross?

The Sub Registrar Office that covers Pallavan Nagar 3rd Main Street 2nd Cross is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Koladi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two values is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's valuation.

Frequently asked questions

What is the current guideline value for Pallavan Nagar 3rd Main Street 2nd Cross?

The current guideline value for Pallavan Nagar 3rd Main Street 2nd Cross is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the 2012 revision at Rs 2,500 per sq.ft, decreasing to Rs 1,675 per sq.ft in 2017, and then increasing to Rs 2,500 per sq.ft in 2023. The latest revision in 2024 raised it to Rs 2,750 per sq.ft.

What is the land classification for Pallavan Nagar 3rd Main Street 2nd Cross?

The land classification for Pallavan Nagar 3rd Main Street 2nd Cross is Residential Special Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Pallavan Nagar 3rd Main Street 2nd Cross is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Koladi?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 27,50,000, the stamp duty at 7% would be Rs 1,92,500.