Guideline Value for Pallavan Nagar

Pallavan Nagar guideline value

The current guideline value of Pallavan Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Panapakkam village under the Padappai SRO, classified as Residential Class I Type - I.

How the guideline value of Pallavan Nagar has changed

Over the years, the guideline value of Pallavan Nagar has seen several revisions. The 2012 revision set the value at Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 700 per sq.ft in the 2023 revision, and then to Rs 770 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, while the change from 2023 to 2024 reflects a rise of 10%. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Panapakkam

In Panapakkam, there are 28 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 990 per sq.ft, with the median being Rs 770 per sq.ft. Pallavan Nagar's 2024 figure aligns with this median.

• Oragadam Villa: Rs 770 per sq.ft (2024)
• Ram Prasath Nagar: Rs 770 per sq.ft (2024)
• Lakshmi Nagar: Rs 660 per sq.ft (2024)
• Krishna Nagar: Rs 550 per sq.ft (2024)
• Sindhu Enclave: Rs 990 per sq.ft (2024)
• Sri Krishna Nagar: Rs 550 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 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, resulting in a total of Rs 69,300. It is important to note that the stamp 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 details.

Which Sub Registrar Office covers Pallavan Nagar?

The Sub Registrar Office that covers Pallavan Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Panapakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the government.

When buying or selling property, the guideline value helps in assessing the financial obligations associated with the transaction. Buyers and sellers must be aware of these values to ensure compliance with regulatory requirements during the registration process.

Frequently asked questions

What is the current guideline value of Pallavan Nagar?

The current guideline value of Pallavan Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 in 2012 to Rs 469 in 2017, then increased to Rs 700 in 2023, and finally to Rs 770 in 2024.

What is the land classification for Pallavan Nagar?

Pallavan Nagar is classified as Residential Class I Type - I, which indicates its suitability for residential development.

Where can I find the registration office for Pallavan Nagar?

The registration office for Pallavan Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated in Pallavan Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft incurs a stamp duty of Rs 53,900.