Guideline Value for Pallavan Nagar Barathi Street

Pallavan Nagar Barathi Street guideline value

The current guideline value of Pallavan Nagar Barathi Street is Rs 2,200 per sq.ft. This street is located in Nerkundram village, under the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Pallavan Nagar Barathi Street has changed

The guideline value for Pallavan Nagar Barathi Street has seen several revisions over the years. In 2002, the guideline value was Rs 182 per sq.ft. This increased to Rs 250 per sq.ft in 2003, marking a change of +37%. The value further rose to Rs 400 per sq.ft in 2007, reflecting an increase of +60%. In 2012, the value was Rs 2,000 per sq.ft, which was a significant drop of -33% from the previous revision. By 2017, the guideline value increased to Rs 1,340 per sq.ft, showing a rise of +49%.

In 2023, the guideline value was revised to Rs 2,000 per sq.ft, and then in 2024, it was set at Rs 2,200 per sq.ft, representing a change of +10%. Overall, from 2002 to 2024, the guideline value has increased by +1109%.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the current guideline value of Pallavan Nagar Barathi Street.

• Pallavan Nagar Kambar Street: Rs 2,200 per sq.ft (2024)
• Pallavan Nagar Kattabomman 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Pallavan Nagar Kattabomman 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Pallavan Nagar Kattabomman Street: Rs 2,200 per sq.ft (2024)
• Pallavan Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Pallavan Nagar 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Pallavan Nagar Barathi 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 or the sale price.

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

Which Sub Registrar Office covers Pallavan Nagar Barathi Street?

The Sub Registrar Office that covers Pallavan Nagar Barathi 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 further assistance.

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

The guideline value is a crucial reference point when registering property transactions in Nerkundram. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the fees are calculated based on the official rates set by the government.

When buying or selling property, the guideline value helps establish a legal framework for the transaction, providing clarity and transparency in the process. It is essential for both buyers and sellers to be aware of the current guideline values to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Pallavan Nagar Barathi Street?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 182 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +1109% over the years.

What is the land classification for Pallavan Nagar Barathi Street?

The land classification for Pallavan Nagar Barathi Street is Residential Class IV Type - I, which indicates the type of residential development permitted in the area.

Where can I find the Sub Registrar Office for this area?

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

How is the stamp duty calculated for properties in Pallavan Nagar Barathi Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 1,54,000 at a rate of 7%.