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Guideline Value

Corporate

Guideline Value for Pallavan Nagar Main Road

₹2200/sq.ft.

The guideline value for Pallavan Nagar Main Road in Nerkundram village (Virugambakkam SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nerkundram

Village

Virugambakkam

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹400 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹250 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹182 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Pallavan Nagar Main Road

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Pallavan Nagar Main Road guideline value

The current guideline value of Pallavan Nagar Main Road is Rs 2,200 per sq.ft. This road is located in Nerkundram village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Pallavan Nagar Main Road has changed

The guideline value for Pallavan Nagar Main Road has seen several revisions over the years. Starting from Rs 182 per sq.ft in 2002, the value increased to Rs 250 per sq.ft in 2003, marking a 37% increase. By 2007, it rose significantly to Rs 400 per sq.ft, which was a 60% increase from the previous revision. The value then jumped to Rs 2,000 per sq.ft in 2012, reflecting a remarkable 400% increase from 2007. However, it decreased to Rs 1,340 per sq.ft in 2017, a decline of 33% from the 2012 figure. The value then increased to Rs 2,000 per sq.ft in 2023, which was a 49% increase from 2017. The latest revision in 2024 set the guideline value at Rs 2,200 per sq.ft, representing a 10% increase from the previous year.

There are no figures available for the years between these revisions for Pallavan Nagar Main Road. Overall, from 2002 to 2024, the guideline value has increased by an impressive 1109%.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current value for Pallavan Nagar Main Road.

Stamp duty and registration fee for property in Pallavan Nagar Main Road

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, making the total charges 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pallavan Nagar Main Road?

The Sub Registrar Office covering Pallavan Nagar Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Nerkundram. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is essential for calculating the financial obligations associated with the transaction. It ensures that the government receives the appropriate revenue from property transactions based on the established values.

Frequently asked questions

What is the current guideline value of Pallavan Nagar Main Road?

The current guideline value of Pallavan Nagar Main Road 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 182 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 1109% over this period.

What is the stamp duty rate for properties in Pallavan Nagar Main Road?

The stamp duty rate for properties in Pallavan Nagar Main Road is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Pallavan Nagar Main Road located?

The Sub Registrar Office for Pallavan Nagar Main Road is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the appropriate revenue is collected by the government based on the established property values.