Guideline Value for Pallavan Street (Prakash Nagar)

Pallavan Street (Prakash Nagar) guideline value

The current guideline value of Pallavan Street (Prakash Nagar) is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village, under the Ambattur SRO, and is classified as Residential Special Type - I.

How the guideline value of Pallavan Street (Prakash Nagar) has changed

The guideline value for Pallavan Street (Prakash Nagar) has undergone several revisions over the years. In 2012, the value was Rs 2,200 per sq.ft, which decreased to Rs 1,474 per sq.ft in 2017. Following this, the value saw a significant increase to Rs 2,200 per sq.ft in 2023, and further rose to Rs 2,400 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, comparing the 2012 and 2024 revisions, there has been a 9% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Pallavan Street (Prakash Nagar) is above this median with its current guideline value.

• Panagal Street: Rs 1,100 per sq.ft (2024)
• Pallavan Cross Street (Prakash Nagar): Rs 2,400 per sq.ft (2024)
• Pandalamman Street: Rs 1,400 per sq.ft (2024)
• Pandi Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• Pandi Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Pandiyan Street (Prakash Nagar): Rs 2,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty, charged at 7%, would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total fees to Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Pallavan Street (Prakash Nagar)?

The Sub Registrar Office covering Pallavan Street (Prakash Nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

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

The current guideline value of Pallavan Street (Prakash Nagar) is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then increased to Rs 2,200 in 2023, and finally to Rs 2,400 in 2024.

What is the land classification for Pallavan Street (Prakash Nagar)?

Pallavan Street (Prakash Nagar) is classified as Residential Special Type - I.

Where can I find the Sub Registrar Office for Pallavan Street (Prakash Nagar)?

The Sub Registrar Office for Pallavan Street (Prakash Nagar) is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,400 per sq.ft, the total fees would amount to Rs 2,16,000.