Guideline Value for Pallavan Nagar 1st Cross Street

Pallavan Nagar 1st Cross Street guideline value

The current guideline value of Pallavan Nagar 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Pallavan Nagar 1st Cross Street has changed

The guideline value for Pallavan Nagar 1st Cross Street has undergone several revisions over the years. In 2002, the guideline value was Rs 182 per sq.ft, which increased to Rs 250 per sq.ft in 2003, marking a 37% rise. By 2007, the value further increased to Rs 400 per sq.ft, reflecting a 60% change. The guideline value then saw a significant jump to Rs 2,000 per sq.ft in 2012, which was a 400% increase. However, it decreased to Rs 1,340 per sq.ft in 2017, showing a decline of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, and most recently, it has increased to Rs 2,200 per sq.ft in 2024, a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 1109%. It is important to note that there are no figures available for the years not mentioned in the register for this street.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with guideline values for 2024 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 guideline value of Pallavan Nagar 1st Cross Street.

• Pallavan Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Pallavan Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Pallavan Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Pallavan Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Pallavan Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Pallavan Nagar Barathi Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Pallavan Nagar 1st Cross 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 at 7% would be 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 also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Pallavan Nagar 1st Cross Street?

The Sub Registrar Office that covers Pallavan Nagar 1st Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For further details, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Nerkundram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to assess the transaction value. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price, ensuring compliance with the regulations set by the registration authorities.

Frequently asked questions

What is the current guideline value of Pallavan Nagar 1st Cross Street?

The current guideline value of Pallavan Nagar 1st Cross 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 seen several revisions, with the most recent increase from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. Overall, from 2002 to 2024, the value has increased by 1109%.

What are the stamp duty and registration fees for property in Pallavan Nagar 1st Cross Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000. The stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Pallavan Nagar 1st Cross Street?

The Virugambakkam Sub Registrar Office covers Pallavan Nagar 1st Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Pallavan Nagar 1st Cross Street?

The land classification for Pallavan Nagar 1st Cross Street is Residential Class IV Type - I, indicating its designation for residential use.