Guideline Value for Pallavan street

Pallavan street guideline value

The current guideline value of Pallavan street in Nariyampakkam village is Rs 250 per sq.ft, effective from 1 July 2024. This street falls under the Sriperumpudur Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Pallavan street has changed

The guideline value for Pallavan street has undergone several revisions over the years. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 250 per sq.ft. The 2017 revision saw a decrease to Rs 167 per sq.ft, marking a -33% change from the previous 2012 figure. However, from 2017 to 2023, there was a significant increase of +50%, bringing the value back to Rs 250 per sq.ft.

The most recent revision in 2024 maintains the guideline value at Rs 250 per sq.ft, reflecting a 0% change from the 2023 figure. The revisions for the years 2002, 2003, and 2007 have no figures recorded for Pallavan street.

Guideline values in Nariyampakkam

In Nariyampakkam, there are 17 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 600 per sq.ft. The median value is Rs 250 per sq.ft, which is the same as Pallavan street's current guideline value.

• Perumalkoil Street: Rs 250 per sq.ft (2024)
• Ramadoss street: Rs 250 per sq.ft (2024)
• Seenivasa Nagar: Rs 250 per sq.ft (2024)
• Kaliamman Koil Street: Rs 250 per sq.ft (2024)
• S.M. Nagar: Rs 400 per sq.ft (2024)
• Sri Balaji Nagar: Rs 500 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 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, resulting in a total of Rs 22,500. 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 Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Nariyampakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the registration department.

When buying or selling property, it is essential to consider the guideline value, as it influences the overall cost of the transaction. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which may affect their financial planning.

Frequently asked questions

What is the current guideline value of Pallavan street?

The current guideline value of Pallavan street is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft from 2012 to 2024, with a decrease to Rs 167 per sq.ft in 2017. The value increased by 50% from 2017 to 2023, returning to Rs 250 per sq.ft.

What are the other streets in Nariyampakkam with similar guideline values?

Other streets in Nariyampakkam with a 2024 guideline value of Rs 250 per sq.ft include Perumalkoil Street, Ramadoss street, Seenivasa Nagar, and Kaliamman Koil Street.

What are the stamp duty and registration fees for property in Pallavan street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at Rs 250 per sq.ft, the total stamp duty and registration fees would amount to Rs 22,500.

Which office handles property registrations for Pallavan street?

The Sriperumpudur Sub Registrar Office handles property registrations for Pallavan street, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.