Guideline Value for PALLAVAN STREET (WARD -5)

Pallavan Street (Ward -5) guideline value

The current guideline value of Pallavan Street (Ward -5) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village under the Chengleput Joint II SRO, classified as Residential Special Type - V.

How the guideline value of Pallavan Street (Ward -5) has changed

The guideline value for Pallavan Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the most recent revision in 2024 has raised it to Rs 1,321 per sq.ft.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from the 2012 revision to the 2024 revision shows a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing Pallavan Street's 2024 figure above that median.

• Palla Street (Ward -2): Rs 660 per sq.ft (2024)
• Palla Street Peramanur (Ward -15): Rs 440 per sq.ft (2024)
• Pambaikaal Street (Ward -15): Rs 660 per sq.ft (2024)
• Pambaikal Street (Per): Rs 660 per sq.ft (2024)
• Pammal K. Sampanthar Salai (Ward -8): Rs 1,760 per sq.ft (2024)
• Panankottur (Ward -15): Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Pallavan Street (Ward -5)

For a 1,000 sq.ft plot at the current rate of Rs 1,321 per sq.ft, the guideline value amounts to Rs 13,21,000. The stamp duty at 7% would be Rs 92,470, and the registration fee at 2% would be Rs 26,420, totaling Rs 1,18,890. 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 detailed calculations.

Which Sub Registrar Office covers Pallavan Street (Ward -5)?

The Sub Registrar Office that covers Pallavan Street (Ward -5) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Ninna Karai. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. It serves as a reference point for both buyers and sellers to understand the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Pallavan Street (Ward -5)?

The current guideline value of Pallavan Street (Ward -5) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024.

What is the median guideline value in Ninna Karai?

The median guideline value in Ninna Karai is Rs 1,100 per sq.ft, which is below the current value of Pallavan Street.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.