Guideline Value for PALLAVAN NAGAR 4TH STREET

Pallavan Nagar 4th Street guideline value

The current guideline value of Pallavan Nagar 4th 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, classified as Residential Class III Type - I.

How the guideline value of Pallavan Nagar 4th Street has changed

The guideline value for Pallavan Nagar 4th Street has undergone several revisions over the years. The earliest figure available is from 2012, where the value was Rs 1,700 per sq.ft. This figure remained the same in the subsequent revision in 2017, where it was noted as Rs 1,139 per sq.ft. However, from 2017 to 2023, the value increased significantly by 49% to Rs 1,700 per sq.ft. The most recent revision in 2024 saw another increase of 10%, bringing the current guideline value to Rs 1,870 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which means that Pallavan Nagar 4th Street's current guideline value is below this median.

• Pallavan Nagar 5th Street: Rs 1,870 per sq.ft (2024)
• Pallavan Nagar 3rd Street: Rs 1,870 per sq.ft (2024)
• Pallavan Nagar 6th Street: Rs 1,870 per sq.ft (2024)
• Pallavan Nagar 2nd Street: Rs 1,870 per sq.ft (2024)
• Pallavan Nagar Main Rod: Rs 2,200 per sq.ft (2024)
• Pallavan Nagar Nethaji Street: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Pallavan Nagar 4th 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 be Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, bringing the total cost for these fees to Rs 1,68,300. It is important to note that 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 details.

Which Sub Registrar Office covers Pallavan Nagar 4th Street?

The Sub Registrar Office that covers Pallavan Nagar 4th 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 information.

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

The guideline value is a crucial factor when registering property transactions in Jelandianpettai. It serves as a benchmark for determining the value of the property, which in turn influences the stamp duty and registration fees payable at the time of sale.

When buying or selling property, the guideline value is used to ensure that the transaction is recorded at a fair value. This value helps in maintaining transparency in property transactions and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Pallavan Nagar 4th Street?

The current guideline value of Pallavan Nagar 4th 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 2023 to Rs 1,870 per sq.ft in 2024, reflecting a 10% increase. The value also increased from Rs 1,139 per sq.ft in 2017 to Rs 1,700 per sq.ft in 2023, marking a 49% rise.

What is the land classification of Pallavan Nagar 4th Street?

Pallavan Nagar 4th Street is classified as Residential Class III Type - I. This classification is important for determining the usage and development potential of the land.

Where can I find the registration office for Pallavan Nagar 4th Street?

The registration office for Pallavan Nagar 4th 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.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a property valued at Rs 18,70,000, the total fees would amount to Rs 1,68,300.