Guideline Value for Pallavan Nagar Kattabomman Street

Pallavan Nagar Kattabomman Street guideline value

The current guideline value of Pallavan Nagar Kattabomman Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Pallavan Nagar Kattabomman Street has changed

The guideline value for Pallavan Nagar Kattabomman Street has seen several revisions over the years. The earliest recorded value was Rs 182 per sq.ft in 2002, which increased to Rs 250 per sq.ft in 2003, marking a 37% increase. By 2007, the value rose significantly to Rs 400 per sq.ft, reflecting a 60% change. The 2012 revision set the value at Rs 2,000 per sq.ft, a notable increase of 400% from 2007. However, in 2017, the value decreased to Rs 1,340 per sq.ft, showing a decline of 33%.

In the subsequent years, the guideline value continued to rise, reaching Rs 2,000 per sq.ft in 2023, which was a 49% increase from the 2017 figure. The latest revision in 2024 has set the value at Rs 2,200 per sq.ft, a 10% increase from the previous year. The overall increase from 2002 to 2024 is 1,109%.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value among these streets is Rs 2,200 per sq.ft, which aligns with the current guideline value of Pallavan Nagar Kattabomman Street.

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

Stamp duty and registration fee for property in Pallavan Nagar Kattabomman 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.

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

Which Sub Registrar Office covers Pallavan Nagar Kattabomman Street?

The Sub Registrar Office that covers Pallavan Nagar Kattabomman 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 Nerkundram

The guideline value is a crucial factor in property transactions in Nerkundram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees payable at the time of registration. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

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

The current guideline value of Pallavan Nagar Kattabomman 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 1,109% over the years.

What is the registration office for Pallavan Nagar Kattabomman Street?

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

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at a rate of 7%.

What other streets have the same guideline value in Nerkundram?

Several other streets in Nerkundram also have a guideline value of Rs 2,200 per sq.ft for 2024, including Pallavan Nagar Kattabomman 2nd Cross Street, Pallavan Nagar Main Road, and Pallavan Nagar Kattabomman 1st Cross Street, among others.