Guideline Value for Xavier Street

Xavier Street guideline value

The current guideline value of Xavier Street is Rs 2,200 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 III Type - I.

How the guideline value of Xavier Street has changed

The guideline value for Xavier Street has seen several revisions over the years. Starting with the 2003 revision, the value was Rs 159 per sq.ft. This increased significantly to Rs 300 per sq.ft in 2007, marking an increase of 89%. Following that, the value surged to Rs 2,000 per sq.ft in 2012, a remarkable rise of 567%. However, in the 2017 revision, the value decreased to Rs 1,340 per sq.ft, a decline of 33%. The 2023 revision set the value at Rs 2,000 per sq.ft, and the most recent 2024 revision raised it to Rs 2,200 per sq.ft, reflecting a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 1284%. It is important to note that there is no figure available for Xavier Street in the 2002 revision.

Guideline values in Cantonment Pallavaram

In Cantonment Pallavaram, there are 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 of Xavier Street is below this median.

• Yadaval Street: Rs 2,700 per sq.ft (2024)
• Veterin Lane: Rs 4,400 per sq.ft (2024)
• Venkatachala Naicken Street: Rs 2,200 per sq.ft (2024)
• Venkatachalam Street: Rs 3,300 per sq.ft (2024)
• Valluvar Street: Rs 2,700 per sq.ft (2024)
• Tennary Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Xavier Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Xavier Street?

The Sub Registrar Office that covers Xavier Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Cantonment Pallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly influences the costs associated with the transaction. Buyers and sellers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Xavier Street?

The current guideline value of Xavier Street is Rs 2,200 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 159 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1284% over the years.

What is the land classification of Xavier Street?

Xavier Street is classified as Residential Class III Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Xavier Street located?

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