Guideline Value for Pallavan Nagar

Pallavan Nagar guideline value

The current guideline value of Pallavan Nagar, located in Mogalivakkam village under the Kunrathur SRO, is Rs 2,970 per sq.ft. The land classification for this area is Residential Special Type - I. This guideline value is effective from 1 July 2024.

How the guideline value of Pallavan Nagar has changed

The guideline value for Pallavan Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, with a guideline value of Rs 600 per sq.ft. This figure increased significantly to Rs 2,700 per sq.ft in 2012, marking a 350% increase. However, it then decreased to Rs 1,809 per sq.ft in 2017, representing a decline of 33%. The value rose again to Rs 2,700 per sq.ft in 2023, and finally, the current revision for 2024 sets it at Rs 2,970 per sq.ft, which is a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 395%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mogalivakkam

Mogalivakkam has a range of guideline values across its 98 streets under the Kunrathur SRO. The 2024 figures for these streets range from Rs 2,530 to Rs 6,600 per sq.ft, with the median value being Rs 2,970 per sq.ft. Pallavan Nagar's 2024 guideline value aligns with this median.

• Paul Alaya Street: Rs 2,970 per sq.ft (2024)
• Nithyasri Gardens - Phase-1: Rs 4,500 per sq.ft (2024)
• Perumal Koil Street: Rs 2,970 per sq.ft (2024)
• Natarajan Avenue: Rs 2,970 per sq.ft (2024)
• Rajambal Nagar: Rs 2,970 per sq.ft (2024)
• Munusamy Nagar: Rs 2,970 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 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty, calculated at 7%, would be Rs 2,07,900, while the registration fee at 2% would be Rs 59,400. Together, the total cost for stamp duty and registration fee would be Rs 2,67,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

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. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Mogalivakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in the transaction process.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Pallavan Nagar?

The current guideline value of Pallavan Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, showing a significant increase of 395% over the years.

What is the land classification for Pallavan Nagar?

The land classification for Pallavan Nagar is Residential Special Type - I.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Pallavan Nagar?

Stamp duty for properties in Pallavan Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.