Guideline Value for PALLAVAN NAGAR

Pallavan Nagar guideline value

The current guideline value of Pallavan Nagar is Rs 220 per sq.ft, effective from 1 July 2024. This area is located in Vallur village, under the Thiruvottiyur SRO, and is 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 oldest recorded figure is from the 2017 revision, which was Rs 134 per sq.ft. This increased significantly to Rs 200 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 set the guideline value at Rs 220 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no recorded figures for Pallavan Nagar in the years 2002, 2003, 2007, and 2012.

Guideline values in Vallur

In Vallur, there are 75 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 551 per sq.ft. The median guideline value for these streets is Rs 220 per sq.ft, which is the same as the current value for Pallavan Nagar.

• Padasalai Street: Rs 220 per sq.ft (2024)
• Perumal Koil Street: Rs 220 per sq.ft (2024)
• Perumal Nagar: Rs 220 per sq.ft (2024)
• Pomanam Nagar: Rs 220 per sq.ft (2024)
• Ponkovil Nagar: Rs 220 per sq.ft (2024)
• Ponneri High Road: Rs 551 per sq.ft (2024)

Stamp duty and registration fee for property in Pallavan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value would be Rs 2,20,000. The stamp duty charged at 7% would amount to Rs 15,400, and the registration fee at 2% would be Rs 4,400, bringing the total to Rs 19,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pallavan Nagar?

The Sub Registrar Office that covers Pallavan Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Vallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that both parties are aware of the financial implications associated with the transaction.

Frequently asked questions

What is the current guideline value of Pallavan Nagar?

The current guideline value of Pallavan Nagar is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 134 per sq.ft in 2017 to Rs 220 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the guideline values of other streets in Vallur?

Other streets in Vallur have guideline values ranging from Rs 220 to Rs 551 per sq.ft, with several streets, including Padasalai Street and Perumal Koil Street, also having a 2024 value of Rs 220 per sq.ft.

What fees are associated with buying property in Pallavan Nagar?

When buying property in Pallavan Nagar, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Pallavan Nagar located?

The Sub Registrar Office for Pallavan Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.