Guideline Value for Pallavan Nagar

Pallavan Nagar guideline value

The current guideline value of Pallavan Nagar, located in Kilkattalai village under the Pallavaram SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Pallavan Nagar has changed

The guideline value for Pallavan Nagar has undergone several revisions over the years. In 2003, the guideline value was Rs 134 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2007. The value saw a substantial rise of 350% to reach Rs 1,800 per sq.ft in 2012. However, it then decreased by 33% to Rs 1,206 per sq.ft in 2017. The value rose again to Rs 1,800 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 1,980 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1378%. It is important to note that the register has no figure for this street in 2002.

Guideline values in Kilkattalai

In Kilkattalai, there are 194 streets under the Pallavaram SRO, with the 2024 guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value for the area is Rs 2,530 per sq.ft, placing Pallavan Nagar's 2024 figure below this median.

• Pallavan Nagar 1 To 3 Cross Street: Rs 1,980 per sq.ft (2024)
• Pallavaram Duraipakkam Link Road (200 Feet Road): Rs 3,300 per sq.ft (2024)
• Pallavarm Thuraipakkam Radieal Road: Rs 3,300 per sq.ft (2024)
• Pandiyan Nagar: Rs 2,160 per sq.ft (2024)
• Parri Colony: Rs 2,530 per sq.ft (2024)
• Pattammal Colony: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Pallavan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. 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 detailed calculations.

Which Sub Registrar Office covers Pallavan Nagar?

The Pallavaram Sub Registrar Office covers Pallavan Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the property registration process in Kilkattalai. It determines the minimum value at which a property can be registered, ensuring that transactions are recorded at a fair value as per government regulations.

When buying or selling property, the guideline value influences the stamp duty and registration fees, which are calculated based on this value. Buyers should be aware that these costs can significantly impact the overall expenses involved in a property transaction.

Frequently asked questions

What is the current guideline value of Pallavan Nagar?

The current guideline value of Pallavan Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 134 per sq.ft in 2003 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 1378% over the years.

Where can I find the registration office for Pallavan Nagar?

The registration office for Pallavan Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What are the stamp duty rates in Pallavan Nagar?

The stamp duty rate for property transactions in Pallavan Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

How does the guideline value affect property transactions?

The guideline value determines the minimum value for property registration and influences the calculation of stamp duty and registration fees, impacting the overall cost of property transactions.