Guideline Value for PARADISE CITY

Paradise City guideline value

The current guideline value of Paradise City, located in Thirumazhisai village under the Poonamallee SRO, is Rs 1,210 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Paradise City has changed

The guideline value for Paradise City has undergone several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft. This increased significantly to Rs 1,100 per sq.ft in 2023, marking a rise of 64%. The latest revision in 2024 has further increased the guideline value to Rs 1,210 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 81%. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Thirumazhisai

In Thirumazhisai, there are 86 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 730 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, placing Paradise City's 2024 figure below that median.

• Palm Tree Shanthi Avenue Phase 5: Rs 730 per sq.ft (2024)
• Palm Tree Shanthi Avenue Phase 4: Rs 1,100 per sq.ft (2024)
• Palm Tree Shanthi Avenue Phase 3: Rs 730 per sq.ft (2024)
• Palm Tree Shanthi Avenue Phase 2: Rs 730 per sq.ft (2024)
• New Blossom: Rs 1,800 per sq.ft (2024)
• Nedunsalai mani's cafes Atheekenaru: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Paradise City

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total to Rs 1,08,900. 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 more details.

Which Sub Registrar Office covers Paradise City?

The Sub Registrar Office that covers Paradise City is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Thirumazhisai. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the buyer must pay the stamp duty and registration fee based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Paradise City?

The current guideline value of Paradise City is Rs 1,210 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 670 per sq.ft to Rs 1,210 per sq.ft in 2024, marking an overall increase of 81% over this period.

What is the land classification for Paradise City?

The land classification for Paradise City is Residential Special Type - III, indicating its designated use for residential purposes.

Where can I find the registration office for Paradise City?

The registration office for Paradise City is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056.

How is the stamp duty calculated for properties in Paradise City?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 12,10,000, the stamp duty would be Rs 84,700 at 7%.