Guideline Value for Pallavan Nagar Kattabomman 1st Cross Street

Pallavan Nagar Kattabomman 1st Cross Street guideline value

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

How the guideline value of Pallavan Nagar Kattabomman 1st Cross Street has changed

The guideline value for Pallavan Nagar Kattabomman 1st Cross Street has seen significant changes over the years. The earliest recorded figure is from 2002, where the value was Rs 182 per sq.ft. This increased to Rs 250 per sq.ft in 2003, a rise of 37%. Following this, the value further increased to Rs 400 per sq.ft in 2007, marking a substantial 60% growth. The 2012 revision brought the value back to Rs 2,000 per sq.ft, a notable increase of 400% from the previous figure. In 2017, the value decreased to Rs 1,340 per sq.ft, reflecting a decline of 33%. However, from 2017 to 2023, the value rose significantly to Rs 2,000 per sq.ft, an increase of 49%. The most recent revision in 2024 sees the guideline value at Rs 2,200 per sq.ft, a 10% increase from the 2023 figure.

There are no figures available for the years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1,109%.

Guideline values in Nerkundram

In Nerkundram, there are 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 is Rs 2,200 per sq.ft, which is equal to the current value of Pallavan Nagar Kattabomman 1st Cross Street.

• Pallavan Nagar Kambar 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 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 1st Cross 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 1st Cross Street?

The Sub Registrar Office that covers Pallavan Nagar Kattabomman 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 more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Nerkundram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property transactions.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Pallavan Nagar Kattabomman 1st Cross Street?

The current guideline value of Pallavan Nagar Kattabomman 1st Cross 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 changed significantly from Rs 182 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1,109%.

What is the land classification for this street?

Pallavan Nagar Kattabomman 1st Cross Street is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.