Guideline Value for Pallavan Nagar

Pallavan Nagar guideline value

The current guideline value of Pallavan Nagar, located in Puthuper village, is Rs 520 per sq.ft, effective from 1 July 2024. This area falls under the Sriperumpudur SRO and is classified as a New House Site Type -III (Approved Lay-Out).

How the guideline value of Pallavan Nagar has changed

Over the years, the guideline value of Pallavan Nagar has seen several revisions. The earliest recorded value was Rs 125 per sq.ft in 2007, which increased significantly to Rs 400 per sq.ft in 2012, marking a rise of 220%. However, from 2012 to 2017, the value decreased by 16% to Rs 335 per sq.ft. The following revision in 2023 saw a substantial increase of 49%, bringing the value to Rs 500 per sq.ft, and the latest revision in 2024 has set the value at Rs 520 per sq.ft, reflecting a 4% increase.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, there has been a significant increase of 316% in the guideline value.

Guideline values in Puthuper

Puthuper village has 39 streets under the Sriperumpudur SRO, with guideline values for 2024 ranging from Rs 100 to Rs 1,350 per sq.ft. The median guideline value is Rs 400 per sq.ft, positioning Pallavan Nagar's 2024 figure above this median.

• Pallikuda Street: Rs 150 per sq.ft (2024)
• Perumal Koil Street: Rs 150 per sq.ft (2024)
• Muthu Mariyamman Koil Street: Rs 150 per sq.ft (2024)
• Muthu Mariyamman Koil Cross Street: Rs 100 per sq.ft (2024)
• Meenakshi Amman Nagar: Rs 200 per sq.ft (2024)
• Royal City: Rs 400 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 520 per sq.ft, the total guideline value amounts to Rs 5,20,000. The stamp duty at 7% would be Rs 36,400, and the registration fee at 2% would be Rs 10,400, bringing the total fees to Rs 46,800. 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?

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 Puthuper

The guideline value is a crucial factor in the registration process of property transactions in Puthuper. It determines the minimum value at which the property must be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, as it reflects the official valuation set by the government. This helps maintain transparency in property dealings and ensures that the correct taxes are paid.

Frequently asked questions

What is the current guideline value of Pallavan Nagar?

The current guideline value of Pallavan Nagar is Rs 520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 125 per sq.ft in 2007 to Rs 520 per sq.ft in 2024, showing an overall increase of 316% over this period.

What is the land classification of Pallavan Nagar?

Pallavan Nagar is classified as a New House Site Type -III (Approved Lay-Out) under the Sriperumpudur SRO.

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

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

How is stamp duty calculated for property transactions in Pallavan Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 5,20,000, the stamp duty would be Rs 36,400 at 7%.