Guideline Value for Pallavan Salai (Street)

Pallavan Salai (Street) guideline value

The current guideline value of Pallavan Salai (Street) is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification is Residential Class III Type - II.

How the guideline value of Pallavan Salai (Street) has changed

The guideline value for Pallavan Salai (Street) has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 4,900 per sq.ft, a significant increase from Rs 3,015 per sq.ft in the 2017 revision. The 2012 revision had a value of Rs 4,500 per sq.ft, which means there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 9%.

It is important to note that there are no figures available for the revisions in 2023, 2007, 2003, and 2002 for this street. The changes in guideline values from the previous revisions highlight the fluctuations in property valuation over the years.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, and Pallavan Salai (Street) aligns with this median value.

• Pammal Nallathambi Street: Rs 3,300 per sq.ft (2024)
• Palayakkaran Street: Rs 6,600 per sq.ft (2024)
• Palayakkaran Lane: Rs 5,500 per sq.ft (2024)
• Palayakkara Cross Street: Rs 6,600 per sq.ft (2024)
• Pandara Street (Pookarar Street): Rs 5,500 per sq.ft (2024)
• Pannaia Maesthri Street Block 76: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pallavan Salai (Street)

For a 1,000 sq.ft plot at the current rate of Rs 4,900 per sq.ft, the guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, totaling Rs 4,41,000. 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 more details.

Which Sub Registrar Office covers Pallavan Salai (Street)?

The Sub Registrar Office that covers Pallavan Salai (Street) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Kodambakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory during the property transfer process.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure that the sale price is not below the guideline value to avoid complications during registration.

Frequently asked questions

What is the current guideline value of Pallavan Salai (Street)?

The current guideline value of Pallavan Salai (Street) is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,500 per sq.ft in 2012 to Rs 3,015 per sq.ft in 2017, and then to Rs 4,900 per sq.ft in 2024. This represents a 63% increase from 2017 to 2024 and a 9% increase overall from 2012 to 2024.

What are the stamp duty and registration fees for properties in Pallavan Salai (Street)?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000. The duty is charged on the higher of the guideline value or the sale price.

Which office handles registrations for Pallavan Salai (Street)?

The Ashok Nagar Sub Registrar Office handles registrations for Pallavan Salai (Street), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the significance of the guideline value in property transactions?

The guideline value serves as the minimum value for property registration and is used to calculate the stamp duty and registration fees. It ensures that properties are registered at a value that reflects the market conditions.