Guideline Value for Pallavan Nagar Pillaiyar Koil Street

Pallavan Nagar Pillaiyar Koil Street guideline value

The current guideline value of Pallavan Nagar Pillaiyar Koil 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 Pillaiyar Koil Street has changed

The guideline value for Pallavan Nagar Pillaiyar Koil Street has seen several revisions over the years. In 2002, the guideline value was Rs 182 per sq.ft. It increased to Rs 250 per sq.ft in 2003, followed by a rise to Rs 400 per sq.ft in 2007. The value then jumped significantly to Rs 2,000 per sq.ft in 2012, which was a 400% increase from the previous revision. However, it decreased to Rs 1,340 per sq.ft in 2017, marking a 33% drop. The value then rose again to Rs 2,000 per sq.ft in 2023, and finally, it is set at Rs 2,200 per sq.ft from July 2024, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,109%. The register has no figures for the years not mentioned in the revisions above.

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 the same as the current guideline value for Pallavan Nagar Pillaiyar Koil Street.

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

Stamp duty and registration fee for property in Pallavan Nagar Pillaiyar Koil 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 fees to Rs 1,98,000. It is important to note that 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 Pillaiyar Koil Street?

The Sub Registrar Office that covers Pallavan Nagar Pillaiyar Koil 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 when registering property transactions in Nerkundram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is essential for buyers to be aware of the guideline value to ensure they are not overpaying for a property based on its market price.

Frequently asked questions

What is the current guideline value of Pallavan Nagar Pillaiyar Koil Street?

The current guideline value of Pallavan Nagar Pillaiyar Koil 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% over this period.

What are the other streets in Nerkundram with the same guideline value?

Other streets in Nerkundram with the same guideline value of Rs 2,200 per sq.ft include Pallavan Nagar Thiruvalluvar Street, Pallavan Nagar Vinayagar Koil Street, Pallavan Nagar Main Road, Pallavan Nagar Kattabomman Street, Pallavan Nagar Kattabomman 2nd Cross Street, and Pallavan Nagar Kattabomman 1st Cross Street.

What is the stamp duty rate for properties in Pallavan Nagar Pillaiyar Koil Street?

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

Where can I find the Sub Registrar Office for Pallavan Nagar Pillaiyar Koil Street?

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