Guideline Value for PAVALAM NAGAR

Pavalam Nagar guideline value

The current guideline value of Pavalam Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Enjambakkam village and falls under the Neelankarai SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Pavalam Nagar has changed

The guideline value for Pavalam Nagar has seen several revisions over the years. In the 2012 revision, the value was Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, and in the latest 2024 revision, it further rose to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the guideline value of Pavalam Nagar.

• Pebble Drop: Rs 2,800 per sq.ft (2024)
• Periyar Cross Street: Rs 2,200 per sq.ft (2024)
• Parijatham Garden: Rs 1,700 per sq.ft (2024)
• Paramasivam Garden: Rs 2,200 per sq.ft (2024)
• Periyar Street: Rs 2,200 per sq.ft (2024)
• PANDIAN NAGAR 6th STREET: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pavalam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 accurate calculations.

Which Sub Registrar Office covers Pavalam Nagar?

The Sub Registrar Office that covers Pavalam Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Enjambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When you register a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standard valuation rather than the negotiated sale price. This process helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Pavalam Nagar?

The current guideline value of Pavalam Nagar 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 increased 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 for Pavalam Nagar?

Pavalam Nagar is classified as Residential Class III Type - I, which indicates its suitability for residential development.

What are the stamp duty rates for properties in Pavalam Nagar?

The stamp duty for properties in Pavalam Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Pavalam Nagar?

The Neelankarai Sub Registrar Office covers Pavalam Nagar, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.