Guideline Value

Corporate

Guideline Value for Pallavan Nagar 3rd Main Road

₹3600/sq.ft.

The guideline value for Pallavan Nagar 3rd 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 3rd Main Road

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Pallavan Nagar 3rd Main Road guideline value

The current guideline value of Pallavan Nagar 3rd 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 3rd Main Road has changed

The guideline value for Pallavan Nagar 3rd Main Road has undergone several revisions over the years. In 2002, the guideline value was Rs 309 per sq.ft. This 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, a 16% increase from the previous year. The 2012 revision saw the value rise significantly to Rs 3,250 per sq.ft, which was a substantial 550% increase. However, in 2017, the value decreased to Rs 2,177 per sq.ft, reflecting a 33% drop. The guideline value then increased to Rs 3,250 per sq.ft in 2023, before reaching the current rate of Rs 3,600 per sq.ft in 2024, which is an 11% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1065%. There are no figures available for the revisions in years other than those mentioned.

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. Pallavan Nagar 3rd Main Road's 2024 figure of Rs 3,600 per sq.ft is above this median.

Stamp duty and registration fee for property in Pallavan Nagar 3rd Main Road

For a 1,000 sq.ft plot at the current rate of Rs 3,600 per sq.ft, the guideline value amounts to Rs 36,00,000. The stamp duty at 7% would be Rs 2,52,000, and the registration fee at 2% would be Rs 72,000, totaling Rs 3,24,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pallavan Nagar 3rd Main Road?

The Sub Registrar Office that covers Pallavan Nagar 3rd 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 an essential factor in property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees.

During the registration process, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation of properties. Buyers and sellers must be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Pallavan Nagar 3rd Main Road?

The current guideline value of Pallavan Nagar 3rd 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 1065% over this period.

What are the stamp duty and registration fees for properties in this area?

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 handles registrations for Pallavan Nagar 3rd Main Road?

The Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, covers registrations for Pallavan Nagar 3rd Main Road.

How is the guideline value determined in Maduravoyal?

The guideline value in Maduravoyal is determined by the Registration Department's guideline value register, which is revised periodically to reflect changes in property values across various streets.