Guideline Value for Pallvan Nagar

Pallvan Nagar guideline value

The current guideline value of Pallvan Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024. This area is located in Menambedu village and falls under the Ambattur SRO, classified as Residential Class V Type - I.

How the guideline value of Pallvan Nagar has changed

The guideline value for Pallvan Nagar has seen several revisions over the years. The earliest recorded revision was in 2012, when the value was Rs 700 per sq.ft. This figure changed to Rs 469 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,000 per sq.ft, which is an increase of 113%. The most recent revision in 2024 set the value at Rs 1,002 per sq.ft, showing no change from the previous year.

It is important to note that there are no recorded figures for Pallvan Nagar in the revisions of 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 43%.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median value for these streets is Rs 1,003 per sq.ft, placing Pallvan Nagar's 2024 figure slightly below this median.

• Palli Street: Rs 1,001 per sq.ft (2024)
• Pallavan Street: Rs 1,000 per sq.ft (2024)
• Pari Nagar: Rs 1,700 per sq.ft (2024)
• Pari Nagar 1st Street: Rs 1,700 per sq.ft (2024)
• Pari Nagar - 2nd Street: Rs 1,700 per sq.ft (2024)
• Pari Nagar 3rd Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Pallvan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,002 per sq.ft, the total guideline value would be Rs 10,02,000. The stamp duty at 7% would amount to Rs 70,140, and the registration fee at 2% would be Rs 20,040, bringing the total charges to Rs 90,180. It is important to note that the 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 details.

Which Sub Registrar Office covers Pallvan Nagar?

The Sub Registrar Office that covers Pallvan Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Menambedu. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the buying or selling process.

When a property is sold, the guideline value is used to ensure that the transaction is recorded at a value that reflects the current market conditions as set by the Registration Department. This helps in maintaining transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Pallvan Nagar?

The current guideline value of Pallvan Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 1,002 per sq.ft in 2024, with significant increases noted between 2017 and 2023.

What is the land classification of Pallvan Nagar?

Pallvan Nagar is classified as Residential Class V Type - I under the Ambattur SRO.

Where can I find the Ambattur Sub Registrar Office?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Pallvan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total charge of Rs 90,180.