Guideline Value for JUSTICE PARAMASIVAM STREET

Justice Paramasivam Street guideline value

The current guideline value of Justice Paramasivam Street is Rs 2,700 per sq.ft. This street is located in Perambur village, under the jurisdiction of the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Justice Paramasivam Street has changed

The guideline value for Justice Paramasivam Street has seen several revisions over the years. In 2002, the guideline value was Rs 420 per sq.ft, which increased to Rs 461 per sq.ft in 2003, marking a 10% rise. Following this, the value continued to rise significantly to Rs 550 per sq.ft in 2007, an increase of 19%. The value then surged to Rs 2,500 per sq.ft in 2012, reflecting a remarkable 355% increase. However, it dropped to Rs 1,675 per sq.ft in 2017, a decrease of 33%. The value then climbed to Rs 2,500 per sq.ft in 2023, and most recently, it is set to rise to Rs 2,700 per sq.ft in 2024, which is an 8% increase.

Overall, from 2002 to 2024, the guideline value has increased by 543%. There are no figures available for the revisions in years other than those listed.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which means that Justice Paramasivam Street's 2024 figure aligns with this median.

• Jothi Ramalingam Street: Rs 2,700 per sq.ft (2024)
• Joseph Technical Institute: Rs 2,200 per sq.ft (2024)
• Joseph Street: Rs 2,200 per sq.ft (2024)
• Kakkanji Colony: Rs 2,700 per sq.ft (2024)
• Kakkanji Colony 1st Street: Rs 2,700 per sq.ft (2024)
• Kakkanji Colony 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Justice Paramasivam Street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. 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 details.

Which Sub Registrar Office covers Justice Paramasivam Street?

The Sub Registrar Office that covers Justice Paramasivam Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO online for more information.

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

The guideline value is a crucial factor when registering property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value may influence the transaction price, especially if the sale price is lower than the guideline value. In such cases, the stamp duty is calculated based on the guideline value to ensure that the government receives the appropriate revenue from the transaction.

Frequently asked questions

What is the current guideline value of Justice Paramasivam Street?

The current guideline value of Justice Paramasivam Street is Rs 2,700 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 420 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 543% over this period.

What is the land classification for Justice Paramasivam Street?

The land classification for Justice Paramasivam Street is Residential Class III Type - II.

Where is the Purasaivakkam Sub Registrar Office located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Justice Paramasivam Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would amount to Rs 1,89,000.