Guideline Value for Pallavan Nagar

Pallavan Nagar guideline value

The current guideline value of Pallavan Nagar, located in Tondaiarpet village under the Royapuram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Pallavan Nagar has changed

The guideline value for Pallavan Nagar has undergone several revisions over the years. The 2007 revision set the value at Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, this was followed by a decrease to Rs 804 per sq.ft in 2017. The value then rose significantly to Rs 1,200 per sq.ft in 2023, and finally, it reached Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 117%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values in the 2024 revision ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, positioning Pallavan Nagar's 2024 guideline value below this median.

• Pammi Sivaramalu Street: Rs 2,200 per sq.ft (2024)
• P.A.N.Rajarathinam Road 1st Street(G.A.Salai): Rs 6,600 per sq.ft (2024)
• P.A.N Rajarathinam Salai 2nd Street(G.A.Salai): Rs 6,600 per sq.ft (2024)
• P.A.N Rajarathinam Salai 3rd Street(G.A.Salai): Rs 6,600 per sq.ft (2024)
• P.A.N Rajarathinam Salai 4th Street(G.A.Salai): Rs 6,600 per sq.ft (2024)
• P.A.N Rajarathinam Salai 5th Street(G.A.Salai): Rs 6,600 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 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. Please 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 more detailed calculations.

Which Sub Registrar Office covers Pallavan Nagar?

The Sub Registrar Office covering Pallavan Nagar is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

When buying or selling property in Tondaiarpet, the guideline value plays a crucial role in determining the registration fees and stamp duty. This value is used by the registration office to assess the applicable charges based on the property’s size and location.

The guideline value must be considered during property transactions, as it can affect the overall cost of buying or selling. It's essential to be aware of these values to ensure compliance with local regulations and avoid any discrepancies 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 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes: from Rs 600 in 2007 to Rs 1,200 in 2012, then to Rs 804 in 2017, followed by Rs 1,200 in 2023, and finally reaching Rs 1,300 in 2024.

What is the land classification for Pallavan Nagar?

Pallavan Nagar is classified under Residential Class II Type - I land classification.

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

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,17,000, calculated based on the guideline value of Rs 13,00,000.

Where is the Sub Registrar Office for Pallavan Nagar located?

The Sub Registrar Office for Pallavan Nagar is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.