Guideline Value for Pallavan Cross Street

Pallavan Cross Street guideline value

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

How the guideline value of Pallavan Cross Street has changed

The guideline value for Pallavan Cross Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in 2023. The most recent 2024 revision has raised the value to Rs 2,200 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street. The significant increase from 2017 to 2023 was 49%, reflecting a notable change in the guideline value during that period.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing Pallavan Cross Street's 2024 figure below that median.

• Pallavan Street: Rs 2,200 per sq.ft (2024)
• Palayamkoil Street: Rs 1,650 per sq.ft (2024)
• Padmavathi Street, Sairam Avenue, Balaiya Garder: Rs 3,850 per sq.ft (2024)
• Padmavathi Nagar, Sreenivasan Nagar: Rs 3,850 per sq.ft (2024)
• Padmavathiammal Street+: Rs 3,850 per sq.ft (2024)
• Pari Colony: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Pallavan 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 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, 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 and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pallavan Cross Street?

The Sub Registrar Office that covers Pallavan Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor when registering property transactions in Madipakkam-1. It serves as the basis for determining the stamp duty and registration fees that need to be paid during the registration process.

When buying or selling property, the guideline value ensures that the transaction is recorded at an official value, which helps in maintaining transparency and accountability in property dealings. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Pallavan Cross Street?

The current guideline value of Pallavan Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From 2017 to 2024, the guideline value has increased by 64%, rising from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, which is higher than the current value of Pallavan Cross Street.

What are the stamp duty and registration fees for a property in Pallavan Cross Street?

For a property valued at 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.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.