Guideline Value for Pallavaram Main Road

Pallavaram Main Road guideline value

The current guideline value of Pallavaram Main Road in Manancheri village, under the Kunrathur SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Pallavaram Main Road has changed

Over the years, the guideline value for Pallavaram Main Road has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,320 per sq.ft as per the 2024 revision. The register has no figure for the years 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, it rose by 49%. The increase from 2023 to 2024 is 10%, leading to an overall increase of 10% from 2012 to 2024.

Guideline values in Manancheri

In Manancheri, there are 59 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 3,400 per sq.ft. The median value for these streets is Rs 990 per sq.ft, placing Pallavaram Main Road's 2024 figure above this median.

• Palayakara Street: Rs 660 per sq.ft (2024)
• Padmavathy Nagar: Rs 990 per sq.ft (2024)
• Parvathy Avenue: Rs 1,650 per sq.ft (2024)
• Parvathy Enclave: Rs 2,500 per sq.ft (2024)
• Perumal koil Street: Rs 1,100 per sq.ft (2024)
• Pilliyar koil Sandhu: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Pallavaram Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pallavaram Main Road?

The Sub Registrar Office that covers Pallavaram Main Road is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Manancheri. It serves as the benchmark for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official value assigned to the property.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures transparency and helps prevent undervaluation of properties during transactions.

Frequently asked questions

What is the current guideline value of Pallavaram Main Road?

The current guideline value of Pallavaram Main Road is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and is now Rs 1,320 per sq.ft in 2024.

What is the land classification for Pallavaram Main Road?

Pallavaram Main Road is classified as Residential Special Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for properties on Pallavaram Main Road?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 13,20,000, the total fees would amount to Rs 1,18,800.

Which office handles property registrations for Pallavaram Main Road?

The Kunrathur Sub Registrar Office handles property registrations for Pallavaram Main Road, located at No.59, Road Street, Kundrathur, Chennai -600 069.