Guideline Value for Pallavan Salai

Pallavan Salai guideline value

The current guideline value of Pallavan Salai in Peravallur village is Rs 2,700 per sq.ft, effective from the 2024 revision. This area falls under the Sembiam Sub Registrar Office and is classified as Residential Class I Type - I.

How the guideline value of Pallavan Salai has changed

The guideline value for Pallavan Salai has seen several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012. However, it dropped to Rs 1,675 per sq.ft in 2017. The subsequent revision in 2023 set the value at Rs 2,500 per sq.ft, and the latest revision in 2024 increased it to Rs 2,700 per sq.ft.

Notably, the changes between revisions include an increase of 150% from 2007 to 2012, a decrease of 33% from 2012 to 2017, a significant increase of 49% from 2017 to 2023, and an 8% rise from 2023 to 2024. The overall change from 2007 to 2024 reflects an increase of 170%. The guideline register has no figures for the years 2002 and 2003 for this street.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO, with guideline values ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 3,301 per sq.ft, placing Pallavan Salai's 2024 value below this median.

• Paper Mills Road: Rs 7,100 per sq.ft (2024)
• Parthasarathy Reddy Street: Rs 2,400 per sq.ft (2024)
• Perambur Co-operative Land Acquisation Road: Rs 3,301 per sq.ft (2024)
• Periyar Nagar 10th Cross Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 10th Street: Rs 4,200 per sq.ft (2024)
• Periyar Nagar 11th Cross Street: Rs 4,200 per sq.ft (2024)

Stamp duty and registration fee for property in Pallavan Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees together to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Pallavan Salai?

The Sub Registrar Office that covers Pallavan Salai is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Peravallur. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When engaging in a property transaction, it is essential to be aware of the current guideline value as it affects the overall cost of the transaction. Buyers and sellers should ensure that they are informed about the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Pallavan Salai?

The current guideline value of Pallavan Salai is Rs 2,700 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 170% over this period.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 27,00,000, the total fees would be Rs 2,43,000.

Which office handles property registration for Pallavan Salai?

The Sembiam Sub Registrar Office handles property registration for Pallavan Salai, located at 5, Papermills Road, Sembiam, Chennai - 600011.

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

The guideline value is significant as it determines the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to be aware of the current guideline value to ensure accurate fee calculations.