Guideline Value for Pallavan Nagar 4th Street

Pallavan Nagar 4th Street guideline value

The current guideline value of Pallavan Nagar 4th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street 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 4th Street has changed

The guideline value for Pallavan Nagar 4th Street has undergone several revisions over the years. In 2002, the value was Rs 182 per sq.ft, which increased to Rs 250 per sq.ft in 2003, marking a change of +37%. By 2007, the value rose significantly to Rs 400 per sq.ft, reflecting a +60% change. The 2012 revision saw the value increase to Rs 2,000 per sq.ft, a substantial +400% from the previous revision. However, in 2017, the value decreased to Rs 1,340 per sq.ft, a drop of -33% from 2012. The value then increased to Rs 2,000 per sq.ft in 2023, which was a +49% change. Finally, in 2024, the current guideline value is Rs 2,200 per sq.ft, representing a +10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +1109%. There are no figures available for the revisions in years not mentioned in this timeline.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with guideline values 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, placing Pallavan Nagar 4th Street at the median value for 2024.

• Pallavan Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Pallavan Nagar Barathi Street: Rs 2,200 per sq.ft (2024)
• Pallavan Nagar Kambar Street: Rs 2,200 per sq.ft (2024)
• Pallavan Nagar Kattabomman 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Pallavan Nagar Kattabomman 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Pallavan Nagar Kattabomman Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Pallavan Nagar 4th 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 is charged at 7%, which totals Rs 1,54,000, and the registration fee is charged at 2%, amounting to Rs 44,000. Therefore, the total cost for stamp duty and registration fee together is Rs 1,98,000. It is important to note that 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 more details.

Which Sub Registrar Office covers Pallavan Nagar 4th Street?

The Sub Registrar Office that covers Pallavan Nagar 4th Street 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. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration. This ensures that the transaction is recorded accurately and reflects the official value set by the authorities.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during property dealings in Nerkundram.

Frequently asked questions

What is the current guideline value of Pallavan Nagar 4th Street?

The current guideline value of Pallavan Nagar 4th 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 182 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, representing an overall increase of +1109% over the years.

What are the stamp duty and registration fees for property in Pallavan Nagar 4th Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fee amounts to Rs 1,98,000.

Which Sub Registrar Office covers Pallavan Nagar 4th Street?

The Virugambakkam Sub Registrar Office covers Pallavan Nagar 4th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value for streets in Nerkundram?

The median guideline value for streets in Nerkundram is Rs 2,200 per sq.ft, which is the same as the current guideline value for Pallavan Nagar 4th Street.