Guideline Value for PALLAVAN NAGAR 3RD STREET

Pallavan Nagar 3rd Street guideline value

The current guideline value of Pallavan Nagar 3rd Street is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in Jelandianpettai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Pallavan Nagar 3rd Street has changed

The guideline value for Pallavan Nagar 3rd Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,700 per sq.ft. This was followed by a decrease to Rs 1,139 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 1,700 per sq.ft in the 2023 revision, and further rose to Rs 1,870 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In summary, the changes between revisions show a notable increase of 49% from 2017 to 2023, while the overall change from 2012 to 2024 is a modest increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are a total of 248 streets under the Chennai South Joint I SRO with 2024 guideline values ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median guideline value for the area is Rs 2,200 per sq.ft, placing Pallavan Nagar 3rd Street's 2024 figure below that median.

• Pallavan Nagar 4th Street: Rs 1,870 per sq.ft (2024)
• Pallavan Nagar 5th Street: Rs 1,870 per sq.ft (2024)
• Pallavan Nagar 2nd Street: Rs 1,870 per sq.ft (2024)
• Pallavan Nagar 6th Street: Rs 1,870 per sq.ft (2024)
• Pallavan Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Pallavan Nagar Main Rod: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Pallavan Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value would be Rs 18,70,000. The stamp duty at 7% would amount to Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, bringing the total to Rs 1,68,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Pallavan Nagar 3rd Street?

The Sub Registrar Office that covers Pallavan Nagar 3rd Street is the Chennai South Joint I 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 details.

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

The guideline value plays a crucial role in the registration process of property transactions in Jelandianpettai. It is used to determine the stamp duty and registration fees that need to be paid during the transaction, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is assessed to ensure that the sale price is in line with the established values in the area. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Pallavan Nagar 3rd Street?

The current guideline value of Pallavan Nagar 3rd Street is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,700 per sq.ft in 2012 to Rs 1,139 per sq.ft in 2017, then increased to Rs 1,700 per sq.ft in 2023, and finally to Rs 1,870 per sq.ft in 2024.

What is the median guideline value in Jelandianpettai?

The median guideline value in Jelandianpettai is Rs 2,200 per sq.ft, while Pallavan Nagar 3rd Street's 2024 figure is below this median.

How is stamp duty calculated for properties in Pallavan Nagar 3rd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 1,30,900.

Where can I find the Sub Registrar Office for Pallavan Nagar 3rd Street?

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