Guideline Value for Pallipattu Main Road

Pallipattu Main Road guideline value

The current guideline value of Pallipattu Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This road is located in Velachery village, falling under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Pallipattu Main Road has changed

The guideline value for Pallipattu Main Road has seen revisions primarily in 2012 and 2024. In 2012, the guideline value was set at Rs 3,500 per sq.ft. This was a significant increase from the previous revisions, which have no figures recorded for the years 2002, 2003, 2007, 2017, and 2023. The increase from 2012 to 2024 was 10%, bringing the current value to Rs 3,850 per sq.ft.

To summarize, the guideline value increased from Rs 3,500 per sq.ft in 2012 to Rs 3,850 per sq.ft in 2024. This reflects a rise of 10% over the twelve-year period.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Pallipattu Main Road's 2024 figure below the median.

• Panchatcharam Nagar: Rs 3,850 per sq.ft (2024)
• Pandidurai Street: Rs 3,850 per sq.ft (2024)
• Pandiyan Street: Rs 3,850 per sq.ft (2024)
• Pandiyan Street/Sankaran Nair Avenue: Rs 3,850 per sq.ft (2024)
• Palkara Natesan Street: Rs 3,850 per sq.ft (2024)
• Parameshwaran Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Pallipattu Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Pallipattu Main Road?

The Sub Registrar Office that covers Pallipattu Main Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value is a critical factor during property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when registering a property. This ensures that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps both parties understand the minimum value that will be considered for registration purposes. This value is essential for ensuring compliance with local regulations and for calculating the associated fees accurately.

Frequently asked questions

What is the current guideline value of Pallipattu Main Road?

The current guideline value of Pallipattu Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 3,500 per sq.ft in 2012 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase over that period. There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023.

What is the classification of Pallipattu Main Road?

Pallipattu Main Road is classified as Residential Class II Type - III, which indicates its intended use for residential purposes.

Where can I find the registration office for Pallipattu Main Road?

The registration office for Pallipattu Main Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For a 1,000 sq.ft plot at the current guideline value, the total fees would be Rs 3,46,500.