Guideline Value for Pallam Street

Pallam Street guideline value

The current guideline value of Pallam Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village, under the Ambattur SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Pallam Street has changed

The guideline value for Pallam Street has seen several revisions over the years. In 2012, the value was Rs 6,000 per sq.ft, which decreased to Rs 4,020 per sq.ft in 2017. Following this, the value increased significantly to Rs 6,000 per sq.ft in 2023, and then rose again to Rs 6,600 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. Notably, the register has no figures for the years 2002, 2003, and 2007 for Pallam Street.

Guideline values in Ambattur

In Ambattur village, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft, with a median value of Rs 3,600 per sq.ft. Pallam Street's 2024 guideline value of Rs 6,600 per sq.ft is above this median.

• Pak subramania Iyar Street: Rs 4,000 per sq.ft (2024)
• Pandi Street: Rs 4,600 per sq.ft (2024)
• Padmanaba naidu Street: Rs 4,000 per sq.ft (2024)
• Pannerselvam Cross Street: Rs 4,000 per sq.ft (2024)
• Pannerselvam Street: Rs 4,000 per sq.ft (2024)
• O.V. Alagesan Street: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in Pallam Street

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, the guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pallam Street?

The Sub Registrar Office that covers Pallam Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor when registering property transactions in Ambattur. It determines the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded accurately for taxation purposes.

When a buyer or seller approaches the registration office, the guideline value will be referenced to calculate the applicable stamp duty and registration fees, which are based on this value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Pallam Street?

The current guideline value of Pallam Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,000 per sq.ft in 2012 to Rs 4,020 per sq.ft in 2017, then to Rs 6,000 per sq.ft in 2023, and finally to Rs 6,600 per sq.ft in 2024.

What is the land classification of Pallam Street?

Pallam Street is classified as Commercial Class I Type - II, which indicates its usage and potential for commercial activities.

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

The Sub Registrar Office for Pallam Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Pallam Street?

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 at Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000, leading to a stamp duty of Rs 4,62,000.