Guideline Value for PALLAVAN STREET (WARD -5)

Pallavan Street (Ward -5) guideline value

The current guideline value of Pallavan Street (Ward -5) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - V.

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

The guideline value for Pallavan Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft. The value increased significantly in the following revisions, reaching Rs 1,200 per sq.ft in 2023 and then rising to Rs 1,320 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%, while the transition from 2012 to 2017 saw a decrease of 33%. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase. It is important to note that the register has no figures for this street in the years 2002, 2003, and 2007.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, placing Pallavan Street's 2024 figure above this median.

• Palla Street (Ward -2): Rs 440 per sq.ft (2024)
• Palla Street Peramanur (Ward -15): Rs 440 per sq.ft (2024)
• Pambaikaal Street (Ward -15): Rs 440 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 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential reference for property transactions in Panangottur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value serves as a baseline for calculating the applicable fees. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being exchanged.

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 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the 2012 revision at Rs 1,200 per sq.ft, dropping to Rs 804 per sq.ft in 2017, then increasing to Rs 1,200 per sq.ft in 2023, and finally reaching Rs 1,320 per sq.ft in 2024.

What is the land classification of Pallavan Street (Ward -5)?

Pallavan Street (Ward -5) is classified as Residential Special Type - V.

Where can I find the Sub Registrar Office for Pallavan Street (Ward -5)?

The Sub Registrar Office for Pallavan Street (Ward -5) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Pallavan Street (Ward -5)?

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 the current rate has a guideline value of Rs 13,20,000, leading to a stamp duty of Rs 92,400 at 7%.