Guideline Value for Pallikuda 2nd Street 2nd Cross Street

Pallikuda 2nd Street 2nd Cross Street guideline value

The current guideline value for Pallikuda 2nd Street 2nd 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 2nd Cross Street has changed

The guideline value for Pallikuda 2nd Street 2nd Cross Street has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 151 per sq.ft. This increased to Rs 167 per sq.ft in 2003, marking an 11% rise. The value then rose significantly to Rs 400 per sq.ft in 2007, reflecting a 140% increase. By 2012, the value reached Rs 2,500 per sq.ft, which was a substantial 525% jump from the previous revision. However, it dropped to Rs 1,675 per sq.ft in 2017, showing a decrease of 33%. In 2023, the guideline value was Rs 2,500 per sq.ft, and it has now increased to Rs 2,750 per sq.ft in 2024, which is a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 1,721%. There are no figures available for revisions in the years not listed above.

Guideline values in Nerkundram

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

• Pallikuda 2nd Street 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Pallikuda 2nd West Street: Rs 2,750 per sq.ft (2024)
• Pallikuda 1st West Street: Rs 2,750 per sq.ft (2024)
• Pallikuda Main Road: Rs 2,750 per sq.ft (2024)
• Pallikuda 1st East Street: 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 2nd 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, totaling Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

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

The Sub Registrar Office that covers Pallikuda 2nd Street 2nd 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 further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property in the area.

When a property is sold, the guideline value is used to assess the applicable fees, ensuring that both the buyer and seller comply with the legal requirements of property registration.

Frequently asked questions

What is the current guideline value of Pallikuda 2nd Street 2nd Cross Street?

The current guideline value of Pallikuda 2nd Street 2nd 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, reflecting an overall increase of 1,721% over this period.

What is the land classification for Pallikuda 2nd Street 2nd Cross Street?

Pallikuda 2nd Street 2nd Cross Street is classified as Residential Class III Type - I.

Where can I find the registration office for this street?

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

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 at a rate of 7%.