Guideline Value for 100 Feet Road

100 Feet Road guideline value

The current guideline value of 100 Feet Road in Parangimalai village is Rs 11,000 per sq.ft, effective from the 2024 revision. This street falls under the Chennai South Joint II SRO and is classified as Commercial Class I Type - I.

How the guideline value of 100 Feet Road has changed

The guideline value for 100 Feet Road has seen significant changes over the years. In the 2002 revision, the guideline value was Rs 357 per sq.ft, which increased to Rs 447 per sq.ft in 2003, marking a rise of 25%. Following this, the value surged dramatically to Rs 4,000 per sq.ft in 2007, reflecting an increase of 795%. The 2012 revision saw a decrease to Rs 10,000 per sq.ft, a drop of 33% from the previous figure. The value then rose to Rs 6,700 per sq.ft in 2017, marking a 49% increase. The most recent revision in 2023 set the value at Rs 10,000 per sq.ft, which increased to Rs 11,000 per sq.ft in 2024, a growth of 10%.

Overall, from 2002 to 2024, the guideline value has increased by 2981%. There are no figures available for the revisions in years not listed above for this street.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, placing 100 Feet Road above that median.

• West Raja Street: Rs 3,300 per sq.ft (2024)
• Well Sowrith Street: Rs 2,750 per sq.ft (2024)
• V.P.Line: Rs 2,750 per sq.ft (2024)
• Vishwanathar Koil Street: Rs 3,300 per sq.ft (2024)
• Vishwanathapuram Street: Rs 3,850 per sq.ft (2024)
• V.G.P.Murthy Square: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in 100 Feet Road

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total charges to Rs 9,90,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers 100 Feet Road?

The Sub Registrar Office that covers 100 Feet Road is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Parangimalai, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

During the registration process, both the buyer and seller must be aware of the guideline value to ensure that the transaction is recorded accurately. This value serves as a benchmark for the official documentation of property ownership.

Frequently asked questions

What is the current guideline value of 100 Feet Road?

The current guideline value of 100 Feet Road is Rs 11,000 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 357 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, marking an overall increase of 2981%.

What is the land classification of 100 Feet Road?

100 Feet Road is classified as Commercial Class I Type - I under the Chennai South Joint II SRO.

What are the stamp duty rates applicable for properties in this area?

The stamp duty rate for properties in this area is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located for 100 Feet Road?

The Chennai South Joint II Sub Registrar Office is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.