Guideline Value for Pallava Garden

Pallava Garden guideline value

The current guideline value of Pallava Garden, located in Zaminpallavaram village, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram Sub Registrar Office (SRO) and is classified as Residential Class I Type - II.

How the guideline value of Pallava Garden has changed

The guideline value for Pallava Garden has undergone several revisions over the years. Starting with the 2003 revision, the guideline value was Rs 219 per sq.ft. This figure saw a significant increase to Rs 600 per sq.ft in the 2007 revision, marking a change of +174%. The value remained unchanged at Rs 600 per sq.ft until the 2012 revision, which then saw another substantial increase to Rs 3,000 per sq.ft, reflecting a change of +400%. The value stayed constant at Rs 3,000 per sq.ft until the 2023 revision, where it increased to Rs 3,300 per sq.ft, a rise of +10%.

It is important to note that there are no figures available for the revisions in 2002 and 2017 for this street. Overall, from the 2003 revision to the current 2024 revision, the guideline value has increased by +1407%.

Guideline values in Zaminpallavaram

Zaminpallavaram has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for the area is Rs 3,300 per sq.ft, which is equal to the current figure for Pallava Garden.

• Pallavan Colony: Rs 2,160 per sq.ft (2024)
• PALIMAR Nagar: Rs 2,160 per sq.ft (2024)
• Palani Andavar Street: Rs 2,160 per sq.ft (2024)
• Panchayat Colony Road: Rs 2,750 per sq.ft (2024)
• Panchayat Market Colony Road: Rs 2,750 per sq.ft (2024)
• Panchayat Market Lane: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Pallava Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for these fees Rs 2,97,000. It is important to note that the 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 Pallava Garden?

The Pallava Garden area is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for additional assistance.

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

The guideline value plays a crucial role in property transactions in Zaminpallavaram. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value ensures that the government receives appropriate revenue from property transactions based on the current market conditions.

When selling property, the guideline value helps establish a baseline for the sale price, ensuring that the transaction is recorded accurately at the registration office. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Pallava Garden?

The current guideline value of Pallava Garden is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 219 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +1407%.

What are the registration fees for property in Pallava Garden?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations in Pallava Garden?

The Pallavaram Sub Registrar Office handles property registrations in Pallava Garden, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

Are there other streets with different guideline values in Zaminpallavaram?

Yes, there are other streets in Zaminpallavaram with varying guideline values. For example, Pallavan Colony, PALIMAR Nagar, and Palani Andavar Street all have a guideline value of Rs 2,160 per sq.ft in 2024.