Guideline Value for Pallavan Colony

Pallavan Colony guideline value

The current guideline value of Pallavan Colony, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 2,160 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class III Type - I land classification.

How the guideline value of Pallavan Colony has changed

Over the years, the guideline value of Pallavan Colony has seen several revisions. Starting from the 2003 revision, the guideline value was Rs 407 per sq.ft. This increased to Rs 800 per sq.ft in 2007, marking a significant rise of 97%. The 2012 revision saw a further increase to Rs 2,000 per sq.ft, representing a 150% jump. However, in 2017, the value decreased to Rs 1,340 per sq.ft, a decline of 33%. The most recent revision in 2024 has brought the value back up to Rs 2,160 per sq.ft, showing an increase of 61% from the previous figure.

It is noteworthy that there are no figures available for the years 2023 and 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 431%.

Guideline values in Zaminpallavaram

Zaminpallavaram village comprises 638 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, indicating that Pallavan Colony's 2024 figure is below the median.

• Pallava Garden: Rs 3,300 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 Pallavan Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value amounts to Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200. Together, the total cost for stamp duty and registration would be Rs 1,94,400. 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 Pallavan Colony?

The Pallavan Colony is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are documented accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Pallavan Colony?

The current guideline value of Pallavan Colony is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 407 per sq.ft in 2003 to Rs 2,160 per sq.ft in 2024, marking an overall increase of 431% over this period.

What are the other streets in Zaminpallavaram with their guideline values?

Other streets in Zaminpallavaram include Pallava Garden at Rs 3,300 per sq.ft, PALIMAR Nagar at Rs 2,160 per sq.ft, and several others ranging from Rs 2,750 to Rs 3,300 per sq.ft.

What is the stamp duty for property in Pallavan Colony?

The stamp duty for property in Pallavan Colony is 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 21,60,000, the stamp duty would amount to Rs 1,51,200.

Where can I find the Sub Registrar Office for Pallavan Colony?

The Sub Registrar Office covering Pallavan Colony is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044. You can find more details by visiting the provided link.