Guideline Value for Pallikuda 2nd Street 1st Cross Street

Pallikuda 2nd Street 1st Cross Street guideline value

The current guideline value for Pallikuda 2nd Street 1st Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO and is classified as Residential Class III Type - I.

How the guideline value of Pallikuda 2nd Street 1st Cross Street has changed

The guideline value for Pallikuda 2nd Street 1st Cross Street has seen several revisions over the years. Starting from Rs 151 per sq.ft in 2002, it increased to Rs 167 per sq.ft in 2003, marking a rise of 11%. The value then surged significantly to Rs 400 per sq.ft in 2007, reflecting a 140% increase. In 2012, the value was revised to Rs 2,500 per sq.ft, a sharp increase of 525%. However, it dropped to Rs 1,675 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,750 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1,721%. The register has no figures for the years not mentioned in the revisions above.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Pallikuda 2nd Street 1st Cross Street above this median.

• Pallikuda 1st West Street: Rs 2,750 per sq.ft (2024)
• Pallikuda 2nd Street 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Pallikuda 1st East Street: Rs 2,750 per sq.ft (2024)
• Pallikuda 2nd West Street: Rs 2,750 per sq.ft (2024)
• Pallikuda Main Road: Rs 2,750 per sq.ft (2024)
• Pallavan Nagar Vinayagar Koil Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Pallikuda 2nd Street 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Pallikuda 2nd Street 1st Cross Street?

The Sub Registrar Office that covers Pallikuda 2nd Street 1st Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the property's worth as per the official register. This process aids in maintaining transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value for Pallikuda 2nd Street 1st Cross Street?

The current guideline value for Pallikuda 2nd Street 1st Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 151 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, with various revisions occurring in between.

What is the median guideline value for streets in Nerkundram?

The median guideline value for streets in Nerkundram is Rs 2,200 per sq.ft, with Pallikuda 2nd Street 1st Cross Street above this median at Rs 2,750 per sq.ft.

What are the stamp duty and registration fees for property in Pallikuda 2nd Street 1st Cross Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property, the total fees would amount to Rs 2,47,500.

Where is the Sub Registrar Office for Pallikuda 2nd Street 1st Cross Street located?

The Sub Registrar Office for Pallikuda 2nd Street 1st Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.