Guideline Value for PALLAVAN NAGAR

Pallavan Nagar guideline value

The current guideline value of Pallavan Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Thadaperumbakkam_2 village under the Ponneri SRO, classified as Residential Class II Type - I.

How the guideline value of Pallavan Nagar has changed

The guideline value for Pallavan Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 134 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 300 per sq.ft. The current 2024 revision continues this value at Rs 300 per sq.ft, showing no change from 2023 to 2024.

Between 2017 and 2023, the guideline value increased by 124%. Overall, from 2017 to 2024, the increase is also 124%, indicating a significant change in the value over this period. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Thadaperumbakkam_2

In Thadaperumbakkam_2, there are 23 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 600 per sq.ft. The median value for these streets is Rs 300 per sq.ft, making Pallavan Nagar's 2024 figure equal to this median.

• Pon Nagar: Rs 300 per sq.ft (2024)
• Pon Nagar Garden: Rs 300 per sq.ft (2024)
• Pon Nagar Kilaku: Rs 300 per sq.ft (2024)
• Prakash Garden: Rs 300 per sq.ft (2024)
• Samundeeswari Nagar: Rs 300 per sq.ft (2024)
• Senthamizh Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Pallavan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. It is important to note that the 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?

The Sub Registrar Office that covers Pallavan Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Thadaperumbakkam_2

The guideline value plays a crucial role in property transactions in Thadaperumbakkam_2. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in the registration process.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This value helps in assessing the costs associated with the transaction, providing both buyers and sellers with a clear understanding of their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Pallavan Nagar?

The current guideline value of Pallavan Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 134 per sq.ft in 2017 to Rs 300 per sq.ft in both 2023 and 2024, reflecting a 124% increase overall from 2017 to 2024.

What is the land classification of Pallavan Nagar?

Pallavan Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles registrations for properties in Pallavan Nagar.

How is stamp duty calculated for properties in Pallavan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 300 per sq.ft incurs a total stamp duty and registration fee of Rs 27,000.