Guideline Value for PALLAVAN NAGAR 6TH STREET

Pallavan Nagar 6th Street guideline value

The current guideline value of Pallavan Nagar 6th Street is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in Jelandianpettai village, under the Chennai South Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Pallavan Nagar 6th Street has changed

Over the years, the guideline value of Pallavan Nagar 6th Street has seen several revisions. The 2012 revision set the value at Rs 1,700 per sq.ft, which was followed by a decrease to Rs 1,139 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase, bringing the value back up to Rs 1,700 per sq.ft, and then to Rs 1,870 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. The overall change from the 2012 revision to the 2024 revision shows a 10% increase, indicating fluctuations in the guideline value over the years.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO, with 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, making the current figure for Pallavan Nagar 6th Street below this median.

• Pallavan Nagar 5th Street: Rs 1,870 per sq.ft (2024)
• Pallavan Nagar 4th Street: Rs 1,870 per sq.ft (2024)
• Pallavan Nagar Main Rod: Rs 2,200 per sq.ft (2024)
• Pallavan Nagar 3rd Street: Rs 1,870 per sq.ft (2024)
• Pallavan Nagar Nethaji Street: Rs 1,870 per sq.ft (2024)
• Pallavan Nagar 2nd Street: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Pallavan Nagar 6th 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 cost for these fees 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 6th Street?

The Sub Registrar Office that covers Pallavan Nagar 6th 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 is a crucial factor when buying or selling property in Jelandianpettai. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are documented accurately and that the government receives the appropriate revenue from property sales.

Frequently asked questions

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

The current guideline value of Pallavan Nagar 6th 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 back to Rs 1,700 per sq.ft in 2023, and finally to Rs 1,870 per sq.ft in 2024.

What are the other streets in Jelandianpettai with similar guideline values?

Other streets in Jelandianpettai with the same guideline value of Rs 1,870 per sq.ft include Pallavan Nagar 5th Street, Pallavan Nagar 4th Street, Pallavan Nagar 3rd Street, Pallavan Nagar Nethaji Street, and Pallavan Nagar 2nd Street.

How is stamp duty calculated for properties in Pallavan Nagar 6th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 18,70,000 would incur a stamp duty of Rs 1,30,900 at 7%.

Where can I find the Sub Registrar Office for Pallavan Nagar 6th Street?

The Sub Registrar Office for Pallavan Nagar 6th Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.