Guideline Value for Pallavan Street

Pallavan Street guideline value

The current guideline value of Pallavan Street is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Menambedu village under the Ambattur SRO, classified as Residential Class III Type - I.

How the guideline value of Pallavan Street has changed

Over the years, the guideline value for Pallavan Street has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which remained unchanged until the 2017 revision when it dropped to Rs 670 per sq.ft. Following this, the value increased significantly to Rs 1,000 per sq.ft in the 2023 revision and has remained the same in the 2024 revision, indicating a 49% increase from 2017 to 2023.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Pallavan Street. Overall, when comparing the 2012 revision to the 2024 revision, the guideline value has not changed, remaining at Rs 1,000 per sq.ft.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that have a guideline value for 2024 ranging from Rs 1,000 to Rs 6,680 per sq.ft, with a median value of Rs 1,003 per sq.ft. The guideline value for Pallavan Street is below this median.

• Palli Street: Rs 1,001 per sq.ft (2024)
• Pallvan Nagar: Rs 1,002 per sq.ft (2024)
• Pari Nagar: Rs 1,700 per sq.ft (2024)
• Pari Nagar 1st Street: Rs 1,700 per sq.ft (2024)
• Pari Nagar - 2nd Street: Rs 1,700 per sq.ft (2024)
• Pari Nagar 3rd Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Pallavan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty, charged at 7%, would amount to Rs 70,000, and the registration fee, at 2%, would be Rs 20,000. The total cost for these fees would be Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pallavan Street?

The Sub Registrar Office that covers Pallavan Street 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 more information.

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

The guideline value plays a crucial role in property transactions in Menambedu. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid.

During the registration process, the buyer must ensure that the sale price is at least equal to the guideline value. This ensures compliance with local regulations and helps in the accurate assessment of taxes associated with the property transaction.

Frequently asked questions

What is the current guideline value of Pallavan Street?

The current guideline value of Pallavan Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Pallavan Street has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in both 2023 and 2024.

What is the land classification of Pallavan Street?

Pallavan Street is classified as Residential Class III Type - I under the Ambattur SRO.

Where can I find the Sub Registrar Office for Pallavan Street?

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

How is the stamp duty calculated for properties in Pallavan Street?

The stamp duty for properties in Pallavan Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot valued at Rs 10,00,000, the stamp duty would be Rs 70,000.