Guideline Value for Pensioners Road & Street

Pensioners Road & Street guideline value

The current guideline value of Pensioners Road & Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Cantonment Pallavaram village, under the Pallavaram SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Pensioners Road & Street has changed

Over the years, the guideline value for Pensioners Road & Street has seen significant changes. The earliest recorded revision was in 2003, with a guideline value of Rs 317 per sq.ft. This value increased to Rs 300 per sq.ft in 2007, then rose sharply to Rs 1,500 per sq.ft in 2012. However, it saw a decrease of 33% to Rs 1,005 per sq.ft in 2017. Following this, the value surged by 49% to Rs 1,500 per sq.ft in 2023, and finally increased by 10% to the current value of Rs 1,650 per sq.ft in 2024. The register has no figure for this street in 2002.

In summary, from 2003 to 2024, the guideline value has increased by a total of 421%. The most notable change occurred between 2007 and 2012, where the value jumped by 400%, and the most recent increase from 2023 to 2024 was 10%.

Guideline values in Cantonment Pallavaram

Cantonment Pallavaram has a total of 81 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 11,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Pensioners Road & Street is below this median.

• Periya Palayathamman Koil Street: Rs 3,300 per sq.ft (2024)
• Pandian Street: Rs 2,700 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 3,850 per sq.ft (2024)
• Police Lane: Rs 2,700 per sq.ft (2024)
• Poniyamman Koil Street: Rs 2,700 per sq.ft (2024)
• P.A. Jaganathan Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Pensioners Road & Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Pensioners Road & Street?

The Sub Registrar Office that covers Pensioners Road & Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Cantonment Pallavaram. It serves as the minimum value on which stamp duty and registration fees are calculated. This ensures that the transaction is recorded accurately and reflects the value of the property.

When a property is sold, the guideline value helps determine the legal and financial obligations of both the buyer and seller. It is essential for all parties involved to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Pensioners Road & Street?

The current guideline value of Pensioners Road & Street is Rs 1,650 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 317 per sq.ft in 2003 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 421% over this period.

What is the median guideline value in Cantonment Pallavaram?

The median guideline value in Cantonment Pallavaram is Rs 2,700 per sq.ft, with Pensioners Road & Street's 2024 value being below this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,50,000, the stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500.

Where can I find the Sub Registrar Office for Pensioners Road & Street?

The Sub Registrar Office for Pensioners Road & Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.