Guideline Value for Pallavan Nagar 4th Cross Street

Pallavan Nagar 4th Cross Street guideline value

The current guideline value of Pallavan Nagar 4th Cross Street is Rs 3,600 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village under the Virugambakkam SRO, classified as Residential Class I Type - II.

How the guideline value of Pallavan Nagar 4th Cross Street has changed

The guideline value for Pallavan Nagar 4th Cross Street has seen several revisions 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% increase. The value then rose to Rs 500 per sq.ft in 2007, reflecting a 16% increase. A significant jump occurred in 2012 when the value reached Rs 3,250 per sq.ft, representing a 550% increase from the previous revision. However, it dropped to Rs 2,177 per sq.ft in 2017, a decrease of 33%.

In the subsequent revisions, the value increased to Rs 3,250 per sq.ft in 2023, showing a 49% rise from 2017. The most recent revision in 2024 set the guideline value at Rs 3,600 per sq.ft, which is an 11% increase from the previous year. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Maduravoyal

The village of Maduravoyal has a total of 636 streets under the Virugambakkam SRO, with a 2024 guideline value range from Rs 2,200 to Rs 6,050 per sq.ft. The median value for these streets is Rs 3,050 per sq.ft, placing Pallavan Nagar 4th Cross Street above this median.

• Pallavan Nagar 4th Main Road: Rs 3,600 per sq.ft (2024)
• Pallavan Nagar 5th Cross Street: Rs 3,600 per sq.ft (2024)
• Pallavan Nagar 3rd Main Road: Rs 3,600 per sq.ft (2024)
• Pallavan Nagar 5th Main Road: Rs 3,600 per sq.ft (2024)
• Pallavan Nagar 3rd Cross Street: Rs 3,600 per sq.ft (2024)
• Pallavan Nagar 6th Main Road: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in Pallavan Nagar 4th 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, bringing the total 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.

For further details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pallavan Nagar 4th Cross Street?

The Sub Registrar Office that covers Pallavan Nagar 4th 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 more information.

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

The guideline value is a critical component in the registration process of property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to assess the applicable stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher value between the guideline value and the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Pallavan Nagar 4th Cross Street?

The current guideline value of Pallavan Nagar 4th 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 multiple times, starting 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 the years.

What is the stamp duty rate for properties in Pallavan Nagar 4th Cross Street?

The stamp duty rate for properties in Pallavan Nagar 4th Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for Pallavan Nagar 4th Cross Street?

The Sub Registrar Office for Pallavan Nagar 4th Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value for streets in Maduravoyal?

The median guideline value for streets in Maduravoyal is Rs 3,050 per sq.ft, with Pallavan Nagar 4th Cross Street's value being above this median.