Guideline Value

Corporate

Guideline Value for Pallavan Nagar 1st Cross Street

₹3600/sq.ft.

The guideline value for Pallavan Nagar 1st Cross Street 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 Cross Street

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Pallavan Nagar 1st Cross Street guideline value

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

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 since 2002. The 2002 revision recorded a guideline value of Rs 309 per sq.ft. This figure increased to Rs 430 per sq.ft in 2003, followed by a rise to Rs 500 per sq.ft in 2007. The value saw a significant jump to Rs 3,250 per sq.ft in 2012, but then decreased to Rs 2,177 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 3,250 per sq.ft, and the most recent 2024 revision set it at Rs 3,600 per sq.ft.

Between the revisions, there were notable changes. From 2002 to 2003, the increase was +39%. The value rose by +16% from 2003 to 2007. The jump from 2007 to 2012 was +550%. However, from 2012 to 2017, there was a decrease of -33%. The value increased significantly by +49% from 2017 to 2023. Finally, the change from 2023 to 2024 is +11%. Overall, from 2002 to 2024, the guideline value has increased by +1065%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value in this area is Rs 3,050 per sq.ft, positioning Pallavan Nagar 1st Cross Street above this median.

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 3,600 per sq.ft, the total 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. Together, the total cost for stamp duty and registration fee would be 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 our stamp duty and registration fee calculator for more details.

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. You can find your SRO for additional information.

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

The guideline value is a crucial factor when buying or selling property in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements during registration.

When finalizing a sale, the guideline value helps in assessing the financial obligations that arise from the transaction. It is essential for both parties to understand how this value impacts the overall cost of property transfer, ensuring a smooth registration process.

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 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 the years.

What is the registration fee for property in Pallavan Nagar 1st Cross Street?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 36,00,000, the registration fee would amount to Rs 72,000.

Where can I find the Sub Registrar Office for Pallavan Nagar 1st Cross Street?

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

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to be aware of this value to ensure accurate financial planning and compliance with legal requirements.