Guideline Value for Pallavan Nagar

Pallavan Nagar guideline value

The current guideline value of Pallavan Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Katrampakkam B village under the Sriperumpudur SRO, classified as Residential Special Type - I.

How the guideline value of Pallavan Nagar has changed

The guideline value for Pallavan Nagar has seen significant changes over the years. In the 2017 revision, the value was Rs 335 per sq.ft. This figure remained unchanged in the 2023 revision, but in the 2024 revision, it increased to Rs 500 per sq.ft, marking a 49% increase from the 2017 figure.

Throughout the years, there have been revisions for the years 2002, 2003, 2007, and 2012, but the register has no figure for this street in those years. The 2023 to 2024 revision shows no change, maintaining the value at Rs 500 per sq.ft.

Guideline values in Katrampakkam B

Katrampakkam B village has 44 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft, with a median value of Rs 275 per sq.ft. Pallavan Nagar's 2024 figure of Rs 500 per sq.ft is above this median.

• Pakiya Nagar: Rs 300 per sq.ft (2024)
• Perumal Koil Street: Rs 250 per sq.ft (2024)
• New Bank of India Colony: Rs 300 per sq.ft (2024)
• Poongavanaththamman Koil Street: Rs 250 per sq.ft (2024)
• Naari Kazhani Street: Rs 150 per sq.ft (2024)
• Quidemillath Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Pallavan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pallavan Nagar?

The Sub Registrar Office that covers Pallavan Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an important factor when registering property transactions in Katrampakkam B. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the current value set by the Registration Department.

When buying or selling property, the guideline value helps in determining the official value of the property, which is crucial for legal and financial processes. It ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Pallavan Nagar?

The current guideline value of Pallavan Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2024, reflecting a 49% increase. The value remained unchanged from 2023 to 2024.

What is the median guideline value in Katrampakkam B?

The median guideline value in Katrampakkam B is Rs 275 per sq.ft. Pallavan Nagar's value is above this median.

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

For a property valued at Rs 5,00,000, the total stamp duty and registration fees would amount to Rs 45,000, which includes Rs 35,000 for stamp duty and Rs 10,000 for registration fees.

Where is the Sub Registrar Office for Pallavan Nagar located?

The Sub Registrar Office for Pallavan Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.