Guideline Value for PALLAVAN NAGAR 6TH CROSS STREET

Pallavan Nagar 6th Cross Street guideline value

The current guideline value of Pallavan Nagar 6th Cross Street 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 6th Cross Street has changed

The guideline value for Pallavan Nagar 6th Cross Street has seen several revisions over the years. In 2012, the value was set at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and most recently, the 2024 revision established the value at Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

Between the revisions, the most notable change occurred from 2017 to 2023, where the value rose by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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. The median value for these streets is Rs 1,100 per sq.ft, placing Pallavan Nagar 6th Cross Street's 2024 figure above that median.

• Pallavan Nagar 5th Cross Street: Rs 2,750 per sq.ft (2024)
• Pallavan Nagar 7th Cross Street: Rs 2,750 per sq.ft (2024)
• Pallavan Nagar Cross Road: Rs 2,750 per sq.ft (2024)
• Pallavan Nagar 4th Cross Street: Rs 2,750 per sq.ft (2024)
• Pallavan Nagar 3rd Main Street 2nd Cross: Rs 2,750 per sq.ft (2024)
• Pallavan Nagar 3rd Main Street 1st Cross: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Pallavan Nagar 6th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total fees together Rs 2,47,500. Please note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pallavan Nagar 6th Cross Street?

The Sub Registrar Office that covers Pallavan Nagar 6th Cross Street 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 here.

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

The guideline value plays a crucial role in property transactions in Koladi. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

When selling property, the guideline value can influence the selling price, as it provides a benchmark for potential buyers. Understanding the guideline value is essential for both buyers and sellers to navigate the registration process effectively.

Frequently asked questions

What is the current guideline value of Pallavan Nagar 6th Cross Street?

The current guideline value of Pallavan Nagar 6th Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Pallavan Nagar 6th Cross Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 27,50,000. The stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers Pallavan Nagar 6th Cross Street?

The Chennai South Joint II Sub Registrar Office covers Pallavan Nagar 6th Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

What is the land classification for Pallavan Nagar 6th Cross Street?

The land classification for Pallavan Nagar 6th Cross Street is Residential Special Type - I.