Guideline Value

Corporate

Guideline Value for Hospital Road

₹3850/sq.ft.

The guideline value for Hospital Road in Parangimalai village (Chennai South Joint Ii SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Parangimalai

Village

Chennai South Joint II

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1100 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹348 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹278 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510538
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Hospital Road

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Hospital Road guideline value

The current guideline value of Hospital Road in Parangimalai village is Rs 3,850 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - I.

How the guideline value of Hospital Road has changed

The guideline value for Hospital Road has seen several revisions over the years. In 2002, the value was Rs 278 per sq.ft, which increased to Rs 348 per sq.ft in 2003, marking a 25% rise. The value continued to rise significantly, reaching Rs 1,100 per sq.ft in 2007, which was a 216% increase from the previous revision. In 2012, the value was Rs 3,500 per sq.ft, reflecting a substantial 218% increase from 2007. However, this value decreased by 33% to Rs 2,345 per sq.ft in 2017. The guideline value then rose to Rs 3,500 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 3,850 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1285%. There are no figures available for the revisions in years other than those specified.

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 is Rs 3,850 per sq.ft, which is equal to the guideline value for Hospital Road.

Stamp duty and registration fee for property in Hospital Road

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Hospital Road?

The Sub Registrar Office that covers Hospital 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 details.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Parangimalai, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs in the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it influences the overall transaction costs. Ensuring that the property is registered at or above the guideline value helps in maintaining compliance with local regulations.

Frequently asked questions

What is the current guideline value of Hospital Road?

The current guideline value of Hospital Road is Rs 3,850 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 278 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 1285% over this period.

What is the classification of land on Hospital Road?

Hospital Road is classified as Residential Class II Type - I under the Chennai South Joint II SRO.

What are the stamp duty rates for properties on Hospital Road?

The stamp duty for properties on Hospital Road is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Hospital Road?

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