Guideline Value

Corporate

Guideline Value for Pallavan Nagar 1st Main Road

₹3600/sq.ft.

The guideline value for Pallavan Nagar 1st Main Road in Maduravoyal village (Virugambakkam SRO, Chennai zone) is Rs 3600 per sq.ft, effective 1 July 2024. It was Rs 3250 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Maduravoyal

Village

Virugambakkam

SRO

Residential Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹3600 /sq.ft.
From 1-4-2023 ₹3250 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2177 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3250 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹430 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹309 /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 1st Main Road

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Pallavan Nagar 1st Main Road guideline value

The current guideline value of Pallavan Nagar 1st Main Road is Rs 3,600 per sq.ft, effective from 1 July 2024. This road is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Residential Class I Type - II.

How the guideline value of Pallavan Nagar 1st Main Road has changed

The guideline value of Pallavan Nagar 1st Main Road has seen significant changes over the years. In 2002, the value was Rs 309 per sq.ft, which increased to Rs 430 per sq.ft in 2003, marking a 39% rise. The value continued to rise, reaching Rs 500 per sq.ft in 2007, an increase of 16%. However, from 2007 to 2012, the value jumped dramatically to Rs 3,250 per sq.ft, reflecting a 550% increase. The value then decreased to Rs 2,177 per sq.ft in 2017, a decline of 33%. The guideline value rose again to Rs 3,250 per sq.ft in 2023, and finally reached Rs 3,600 per sq.ft in 2024, which is an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,065%. There are no figures available for the revisions in years not mentioned in the register for this street.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. The guideline value of Pallavan Nagar 1st Main Road is above this median.

Stamp duty and registration fee for property in Pallavan Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,600 per sq.ft, the total guideline value would be Rs 36,00,000. The stamp duty at 7% would amount to Rs 2,52,000, and the registration fee at 2% would be Rs 72,000, bringing the total cost to Rs 3,24,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Pallavan Nagar 1st Main Road?

The Sub Registrar Office that covers Pallavan Nagar 1st 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 Maduravoyal

The guideline value is a crucial factor during the registration process of property transactions in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property. The authorities use this value to ensure that the transaction is recorded accurately and fairly.

When a property is sold, the guideline value helps in assessing the official value of the property for taxation purposes. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations and to avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Pallavan Nagar 1st Main Road?

The current guideline value of Pallavan Nagar 1st Main Road is Rs 3,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 309 per sq.ft in 2002 to Rs 3,600 per sq.ft in 2024, reflecting an overall increase of 1,065% over this period.

What are the stamp duty and registration fees for properties in Pallavan Nagar 1st Main Road?

For a property valued at Rs 36,00,000, the stamp duty would be Rs 2,52,000 and the registration fee would be Rs 72,000, totaling Rs 3,24,000.

Which Sub Registrar Office is responsible for Pallavan Nagar 1st Main Road?

The Virugambakkam Sub Registrar Office is responsible for Pallavan Nagar 1st Main Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value in Maduravoyal?

The median guideline value in Maduravoyal is Rs 3,050 per sq.ft, with Pallavan Nagar 1st Main Road's value being above this median at Rs 3,600 per sq.ft.