Guideline Value for PALLAVAN STREET

Pallavan Street guideline value

The current guideline value of Pallavan Street, located in Jelandianpettai village, is Rs 2,200 per sq.ft. This value is effective from 1 July 2024 and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Pallavan Street has changed

The guideline value for Pallavan Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. This marked a decrease of 33%. However, the value significantly increased to Rs 2,000 per sq.ft in the 2023 revision, and further rose to Rs 2,200 per sq.ft in the 2024 revision, representing a 10% increase from the previous year.

Looking at the overall changes, from the 2012 revision to the 2024 revision, the guideline value increased by 10%. The 2017 revision did not have a figure available for Pallavan Street in the register, as well as the revisions for the years 2002, 2003, and 2007.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the current guideline value of Pallavan Street.

• Pallavan Nagar Nethaji Street: Rs 1,870 per sq.ft (2024)
• Pallavan Nagar Main Rod: Rs 2,200 per sq.ft (2024)
• Pallavan Nagar 6th Street: Rs 1,870 per sq.ft (2024)
• Pallavan Nagar 5th Street: Rs 1,870 per sq.ft (2024)
• Pallavan Nagar 4th Street: Rs 1,870 per sq.ft (2024)
• Pallavan Nagar 3rd Street: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Pallavan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Pallavan Street?

Pallavan Street falls under the jurisdiction of the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. For more details, you can find your SRO.

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

When buying or selling property in Jelandianpettai, the guideline value is a crucial factor in determining the registration fees and stamp duty. The guideline value serves as a benchmark for the transaction and is used to calculate the applicable taxes.

It is essential for buyers and sellers to be aware of the guideline value as it influences the overall cost of property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Pallavan Street?

The current guideline value of Pallavan Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Pallavan Street?

Pallavan Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Pallavan Street?

The Sub Registrar Office for Pallavan Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Pallavan Street?

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 guideline value results in a total fee of Rs 1,98,000.