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 Sattamangalam 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 seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged in the subsequent 2017 revision, where it dropped to Rs 804 per sq.ft. However, the value increased significantly in the 2023 revision to Rs 1,200 per sq.ft, followed by a further increase to Rs 1,320 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

Between the 2017 and 2023 revisions, the value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 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 1,100 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 guideline value of Rs 1,320 per sq.ft, the total 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 fees together to Rs 1,18,800. Please note that 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 covering Pallavan Street (Ward -5) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Sattamangalam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the sale or purchase of property.

When a buyer or seller engages in a transaction, the guideline value helps in ensuring that the property is valued appropriately for tax purposes. The registration office uses this value to calculate the necessary fees, which are mandatory for completing 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?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024, marking a 10% increase. It was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012.

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

Pallavan Street (Ward -5) is classified as Residential Special Type - V. This classification is important for understanding the usage and development potential of the land.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800. These fees are calculated based on the guideline value or the sale price, whichever is higher.

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

The Chengleput Joint II Sub Registrar Office covers Pallavan Street (Ward -5) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. More details can be found by following the link to find your SRO.