Guideline Value

Corporate

Guideline Value for Pallavan Nagar Extn

₹3600/sq.ft.

The guideline value for Pallavan Nagar Extn 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 N/A
From 1-4-2002 To 31-3-2003 N/A
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 Extn

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Pallavan Nagar Extn guideline value

The current guideline value for Pallavan Nagar Extn is Rs 3,600 per sq.ft, effective from 1 July 2024. This area is located in Maduravoyal village and falls under the jurisdiction of the Virugambakkam SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Pallavan Nagar Extn has changed

The guideline value for Pallavan Nagar Extn has experienced several revisions over the years. The 2007 revision set the value at Rs 500 per sq.ft, which increased significantly to Rs 3,250 per sq.ft in 2012. However, this value decreased by 33% to Rs 2,177 per sq.ft in 2017. Following this, the value rose to Rs 3,250 per sq.ft in 2023, and currently stands at Rs 3,600 per sq.ft as of the 2024 revision, reflecting an increase of 11% from the previous year. The register has no figure for this street for the years 2002 and 2003.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 620%. The changes between the revisions highlight the fluctuations in property values in this area, with the most notable increase being 550% from 2007 to 2012, followed by a 49% rise from 2017 to 2023.

Guideline values in Maduravoyal

In Maduravoyal, there are a total of 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value for these streets is Rs 3,050 per sq.ft, placing Pallavan Nagar Extn's 2024 figure above this median.

Stamp duty and registration fee for property in Pallavan Nagar Extn

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 charges 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 more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pallavan Nagar Extn?

The Sub Registrar Office that covers Pallavan Nagar Extn 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 plays a crucial role in the registration process when buying or selling property in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Pallavan Nagar Extn?

The current guideline value of Pallavan Nagar Extn 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 from Rs 500 per sq.ft in 2007 to Rs 3,600 per sq.ft in 2024, marking a significant increase of 620% over the years.

What is the land classification for Pallavan Nagar Extn?

Pallavan Nagar Extn is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Pallavan Nagar Extn?

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.

Where is the Sub Registrar Office for Pallavan Nagar Extn located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, and it handles registrations for Pallavan Nagar Extn.