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 Peramanoor village and falls under the Chengleput Joint II SRO. The land classification for this area is 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 earliest recorded figure is from 2012, which was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017. The 2023 revision saw an increase to Rs 1,200 per sq.ft, and the most recent revision in 2024 raised it to Rs 1,320 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. Between 2017 and 2023, there was a significant increase of 49%. However, from 2012 to 2017, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Peramanoor

In Peramanoor village, there are 430 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 550 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Pallavan Street's 2024 figure above the median.

• Palla Street (Ward -2): Rs 550 per sq.ft (2024)
• Palla Street Peramanur (Ward -15): Rs 550 per sq.ft (2024)
• Pambaikaal Street (Ward -15): Rs 550 per sq.ft (2024)
• Pambaikal Street (Per): Rs 661 per sq.ft (2024)
• Pammal K. Sampanthar Salai (Ward -8): Rs 1,760 per sq.ft (2024)
• Panankottur (Ward -15): Rs 550 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, bringing the total to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. 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. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process for property transactions in Peramanoor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that the transaction is recorded accurately and legally. It is crucial for buyers and sellers to be aware of the guideline value to understand their financial obligations during the registration process.

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?

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 1,320 per sq.ft in 2024.

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

The land classification for Pallavan Street (Ward -5) is Residential Special Type - V.

Where can I find the Chengleput Joint II SRO?

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

How is 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, for a 1,000 sq.ft plot, the total stamp duty and registration fees can amount to Rs 1,18,800.