Guideline Value for Pallavan Nagar

Pallavan Nagar guideline value

The current guideline value of Pallavan Nagar, located in Chennerkuppam village, is Rs 1,320 per sq.ft. This value is effective from the 2024 revision, which falls under the Kunrathur SRO and is classified as Residential Class II Type - I.

How the guideline value of Pallavan Nagar has changed

The guideline value of Pallavan Nagar has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a 300% rise. However, it then dropped to Rs 804 per sq.ft in 2017, a decrease of 33%. The value then increased to Rs 1,200 per sq.ft in 2023, followed by a further increase to the current rate of Rs 1,320 per sq.ft in 2024, which is a 10% rise from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 340%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chennerkuppam

In Chennerkuppam, there are 74 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,895 per sq.ft, with a median value of Rs 1,540 per sq.ft. Pallavan Nagar's 2024 figure is below this median.

• Parvathi Nagar: Rs 1,430 per sq.ft (2024)
• Pavithra Nagar: Rs 1,430 per sq.ft (2024)
• Periyar Nagar: Rs 1,540 per sq.ft (2024)
• Periyar Nagar Extension: Rs 1,540 per sq.ft (2024)
• Navaler Street: Rs 1,320 per sq.ft (2024)
• Poonamallee Pipas Road: Rs 4,620 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Chennerkuppam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Pallavan Nagar?

The current guideline value of Pallavan Nagar is Rs 1,320 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value of Pallavan Nagar has increased from Rs 300 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 340% over the years.

What is the registration office for Pallavan Nagar?

The registration office for Pallavan Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for property in Pallavan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft incurs a total stamp duty of Rs 92,400.

What are the other streets in Chennerkuppam with guideline values?

Other streets in Chennerkuppam include Parvathi Nagar and Pavithra Nagar, both at Rs 1,430 per sq.ft, and Periyar Nagar and Periyar Nagar Extension, both at Rs 1,540 per sq.ft, among others.