Guideline Value for PALLAVAN NAGAR NETHAJI STREET

Pallavan Nagar Nethaji Street guideline value

The current guideline value of Pallavan Nagar Nethaji 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 Nethaji Street has changed

The guideline value for Pallavan Nagar Nethaji Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,700 per sq.ft, which was then reduced to Rs 1,139 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,700 per sq.ft, and the latest 2024 revision has further increased it to Rs 1,870 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Pallavan Nagar Nethaji Street is below this median.

• Pallavan Nagar Main Rod: Rs 2,200 per sq.ft (2024)
• Pallavan Nagar 6th Street: Rs 1,870 per sq.ft (2024)
• Pallavan Nagar 5th Street: Rs 1,870 per sq.ft (2024)
• Pallavan Street: Rs 2,200 per sq.ft (2024)
• Pallavan Nagar 4th Street: Rs 1,870 per sq.ft (2024)
• Pallavan Nagar 3rd Street: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Pallavan Nagar Nethaji Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value amounts to Rs 18,70,000. The stamp duty, charged at 7%, would be Rs 1,30,900, while the registration fee at 2% would be Rs 37,400. Together, these fees amount to Rs 1,68,300. Note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pallavan Nagar Nethaji Street?

The Sub Registrar Office that covers Pallavan Nagar Nethaji 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 during property transactions in Jelandianpettai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transactions are aligned with government valuations.

When buying or selling property, the guideline value influences the stamp duty and registration fees applicable to the transaction. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Pallavan Nagar Nethaji Street?

The current guideline value of Pallavan Nagar Nethaji 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 stamp duty and registration fees for properties here?

For a property valued at Rs 18,70,000, the stamp duty would be Rs 1,30,900 and the registration fee would be Rs 37,400, totaling Rs 1,68,300.

Which Sub Registrar Office is responsible for this area?

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

What is the land classification of Pallavan Nagar Nethaji Street?

Pallavan Nagar Nethaji Street is classified as Residential Class III Type - I.