Guideline Value for Pallavan St ( Ward No.28 )

Pallavan St ( Ward No.28 ) guideline value

The current guideline value of Pallavan St ( Ward No.28 ) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Pallavan St ( Ward No.28 ) has changed

The guideline value for Pallavan St has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and finally, the current value is Rs 1,600 per sq.ft from the 2024 revision, marking a 7% increase from the previous year.

In summary, from 2012 to 2024, the overall change in guideline value is a modest increase of 7%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value is Rs 1,600 per sq.ft, which is equal to the current guideline value of Pallavan St ( Ward No.28 ).

• Pandian St ( Ward No.17 ): Rs 2,200 per sq.ft (2024)
• Pandiyan Street: Rs 2,200 per sq.ft (2024)
• Palani Street (Periyasekkadu) (Ward-01): Rs 1,600 per sq.ft (2024)
• Palani Street (Periya Sekkadu): Rs 1,600 per sq.ft (2024)
• Palanisamy Street (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Palaniappa Nagar (Ward-18): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Pallavan St ( Ward No.28 )

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pallavan St ( Ward No.28 )?

The Sub Registrar Office that covers Pallavan St ( Ward No.28 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role when registering property transactions in Madhavaram. It serves as a standard reference for determining the minimum value at which a property can be registered, ensuring transparency and fairness in the property market.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees. This ensures that both buyers and sellers are aware of the costs involved in the transaction, based on the officially recognized value of the property.

Frequently asked questions

What is the current guideline value of Pallavan St ( Ward No.28 )?

The current guideline value of Pallavan St ( Ward No.28 ) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for Pallavan St?

Pallavan St is classified as Residential Class II Type - I under the Madhavaram SRO.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Pallavan St?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,600 per sq.ft would incur a total stamp duty and registration fee of Rs 1,44,000.