Guideline Value for Pazhani Nagar

Pazhani Nagar guideline value

The current guideline value of Pazhani Nagar, located in Allappakkam village under the Chengleput Joint I SRO, is Rs 902 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - IV.

How the guideline value of Pazhani Nagar has changed

Over the years, the guideline value of Pazhani Nagar has seen several revisions. The 2007 revision set the value at Rs 260 per sq.ft, which increased significantly to Rs 900 per sq.ft in 2012, marking a 246% rise. However, in 2017, the value dropped to Rs 603 per sq.ft, reflecting a decrease of 33%. The value then increased to Rs 900 per sq.ft in 2023, and currently stands at Rs 902 per sq.ft as of the 2024 revision, showing no change from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, the guideline value has increased by 247% from the 2007 revision to the 2024 revision.

Guideline values in Allappakkam

In Allappakkam, there are 51 streets under the Chengleput Joint I SRO that have a 2024 guideline value ranging from Rs 600 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,102 per sq.ft, placing Pazhani Nagar's current value below that median.

• Pranav Orchid: Rs 800 per sq.ft (2024)
• Nsk Nagar I II III IV: Rs 902 per sq.ft (2024)
• Rahmath Golden City Ext: Rs 1,102 per sq.ft (2024)
• Rangaswamy Nagar: Rs 1,200 per sq.ft (2024)
• Rish Hill View co-Operative Nagar: Rs 800 per sq.ft (2024)
• Rishi Hill View Co-Op Nagar Phase-I: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Pazhani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 902 per sq.ft, the total guideline value would be Rs 9,02,000. The stamp duty at 7% would amount to Rs 63,140, and the registration fee at 2% would be Rs 18,040. Together, the total cost for these fees would be Rs 81,180. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pazhani Nagar?

The Pazhani Nagar area falls under the jurisdiction of the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Allappakkam. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Pazhani Nagar?

The current guideline value of Pazhani Nagar is Rs 902 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 260 per sq.ft in 2007 to Rs 902 per sq.ft in 2024, reflecting an overall increase of 247% over this period.

What is the land classification for Pazhani Nagar?

Pazhani Nagar is classified as Residential Special Type - IV, which indicates the type of development permissible in the area.

What are the stamp duty and registration fees for a property in Pazhani Nagar?

For a property valued at Rs 9,02,000, the stamp duty would be Rs 63,140 and the registration fee would be Rs 18,040, totaling Rs 81,180.

Where can I find the Chengleput Joint I SRO?

The Chengleput Joint I SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information by visiting the link to find your SRO.