Guideline Value for Arulmegu Palleswarar Nagar

Arulmegu Palleswarar Nagar guideline value

The current guideline value of Arulmegu Palleswarar Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Parivakkam village and falls under the Poonamallee SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Arulmegu Palleswarar Nagar has changed

Over the years, the guideline value of Arulmegu Palleswarar Nagar has seen several revisions. The most recent revision in 2024 set the value at Rs 660 per sq.ft, an increase from Rs 600 per sq.ft in 2023, marking a change of +10%. Prior to that, the value was Rs 402 per sq.ft in 2017, which reflects a significant increase of +49% over the six years. The 2012 revision also recorded a value of Rs 600 per sq.ft, which was a decrease of -33% from the 2017 figure.

There are no recorded guideline values for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by +10%.

Guideline values in Parivakkam

In Parivakkam, there are 31 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 6,750 per sq.ft, with a median value of Rs 1,800 per sq.ft. The guideline value of Arulmegu Palleswarar Nagar is below this median.

• Angala Parameswari Nagar: Rs 1,100 per sq.ft (2024)
• Devi Karumari Amman Nagar: Rs 660 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 660 per sq.ft (2024)
• Fairmont Estates: Rs 2,000 per sq.ft (2024)
• Garden Town: Rs 3,500 per sq.ft (2024)
• Krishna Nagar Phase I: Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Arulmegu Palleswarar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Arulmegu Palleswarar Nagar?

The Sub Registrar Office that covers Arulmegu Palleswarar Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Parivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When a buyer purchases a property, the registration fees and stamp duty are calculated based on this guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers. It ensures that the property is registered at a value that reflects its market standing, facilitating a smoother transaction process. This value is regularly updated to reflect changes in the real estate market.

Frequently asked questions

What is the current guideline value of Arulmegu Palleswarar Nagar?

The current guideline value of Arulmegu Palleswarar Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024. It was Rs 402 per sq.ft in 2017 and Rs 600 per sq.ft in 2012.

What are the other streets in Parivakkam?

Other streets in Parivakkam include Angala Parameswari Nagar, Devi Karumari Amman Nagar, Dhanalakshmi Nagar, Fairmont Estates, Garden Town, and Krishna Nagar Phase I, with their respective 2024 guideline values ranging from Rs 660 to Rs 3,500 per sq.ft.

How is stamp duty calculated in Arulmegu Palleswarar Nagar?

Stamp duty in Arulmegu Palleswarar Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% of the guideline value.

Where can I find the Sub Registrar Office for Arulmegu Palleswarar Nagar?

The Sub Registrar Office covering Arulmegu Palleswarar Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056.